Searches and Hires

Japan’s KKR taps 4 managers for overseas equities

Japan's Federation of National Public Service Personnel Mutual Aid Associations, also known as KKR, announced it awarded active overseas equity allocations to four global money managers.

A posting on the Tokyo-based pension fund's website Monday said KKR hired Wellington Management Japan, T. Rowe Price Japan, Harris Associates and American Century Investments to actively manage overseas equities for its 6.84 trillion ($60 billion) portfolio.

A KKR spokesman declined to provide further details.

KKR's annual report for the fund's latest fiscal year ended March 31 showed an allocation of just less than 3% of the KKR portfolio, or 203.2 billion, to actively managed equities, or roughly 14% of a total equity weighting of 1.43 trillion.

It won't become clear whether the four managers s are additions to KKR's lineup or replacements for existing managers until the fund releases its annual listing of managers and amounts assigned following its fiscal-year close.

As of March 31, KKR listed the following active equity managers: BlackRock (BLK) Japan, overseeing two mandates with combined assets under management of 53.4 billion; MFS Investment Management, with two mandates and a combined 31.1 billion; Baillie Gifford Overseas, with 15.9 billion; AllianceBernstein (AB), 15.8 billion; Morgan Stanley (MS) Investment Management, 15.4 billion; State Street Global Advisors, 15 billion; Wellington Management and Schroder Investment Management, 14.7 billion each; Goldman Sachs Asset Management, 13.9 billion; and Allianz Global Investors Japan, 13.4 billion.