Japan's Pension Fund Association for Local Government Officials, known locally as Chikyoren, hired Barings to manage an allocation to overseas private debt and Mitsui Real Estate Investment Advisors Co. for an allocation to domestic real estate.
The Tokyo-based, ¥25.56 trillion ($230.7 billion) pension fund, in a posting on its website, said Barings Japan will serve as adviser and its Irish affiliate, Barings International Fund Managers (Ireland) Ltd. will serve as subadviser for the private debt allocation. Similar, Daiwa Fund Consulting will serve as adviser for the domestic real estate allocation that Mitsui Real Estate will subadvise.
Chikyoren provided no details regarding the size of the allocations. The pension fund announces manager-specific allocations once a year when it releases its full fiscal year results, typically at the start of July.