Searches and Hires

Japan’s Chikyoren awards alternatives mandates to Sumitomo Mitsui, UBS

The 21.8 trillion ($196 billion) Pension Fund Association for Local Government Officials, or Chikyoren, has hired Sumitomo Mitsui Asset Management Co. and UBS Asset Management Co. to manage overseas alternatives strategies.

An announcement posted March 29 on the Tokyo-based pension fund's website said Chikyoren selected Sumitomo Mitsui to manage an overseas private equity mandate and UBS to manage an overseas infrastructure mandate.

A Chikyoren spokesman declined to provide further details.