Japan's Government Pension Investment Fund hired Hamilton Lane Advisors to manage a global diversified private equity allocation for the ¥167.5 trillion ($1.61 trillion) Tokyo-based pension giant.
The announcement, made on GPIF's website Wednesday, offered no details regarding the size of the allocation or the management fees — information that the Japanese pension fund puts out once a year with the July release of its annual report for its fiscal year ended March 31.
The announcement said the selection of Hamilton Lane was in line with the RFP the fund issued in April 2017 "to implement alternative investments 'multi-manager' strategies" through fund-of-funds vehicles to pursue fund investments and co-investments.
GPIF hired Mitsubishi UFJ Trust and Banking Corp. as the allocation's "gatekeeper" and Hamilton Lane as the fund-of-funds manager.
As of GPIF's latest report on its portfolio for the quarter ended Sept. 30, the fund's combined allocation to alternative assets stood at only 60 basis points or 0.6%, far short of the 5% ceiling set in 2014.