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World’s biggest pension fund mulls private equity investments

26 Nov 2012

The world’s biggest pension fund could begin investing in private equity after hiring four companies to conduct feasibility studies into alternative asset classes, it has emerged.

Japan’s Government Pension Investment Fund, which controls about $1.31tn, has taken the step as it looks to provide for Japan’s rapidly ageing population according to Reuters.

It said the fund has been paying out more in benefits than it receives in annual contributions ever since the 2009/10 financial year.

The pension fund announced in October it was considering venturing into alternative assets as part of a diversification drive, and has pushed on with that strategy through the latest studies.

It has taken on Japanese law firm Atsumi & Sakai, Swiss private equity fund firm Capital Dynamics, Japanese life insurer-backed asset firm T&D Asset Management and Tokyo-based independent private equity consultant firm Brightrust PE Japan for the job, Reuters said.

JGPI scored a 2.32 per cent return on its investments in 2011, and a -1.85 per cent return for the first quarter of 2012, the last quarter for which it has made results available.

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