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Japan’s GPIF Pursues Feasibility Studies on Alternative Assets

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Japan’s aging population and low birth rate are mounting pressure on the pension system to generate higher returns. A Japanese government agency showed a survey that said by 2060, the population of Japan will fall by 30%, down to 90 million people. Historically, the GPIF has been one of the largest purchasers of Japanese government debt. Japan’s US$ 1.3 trillion Government Pension Investment Fund (GPIF) has chosen four companies to conduct feasibility studies on conceivable future investments in alternative assets. These assets include private equity, real estate, and infrastructure investments. The chairman of the GPIF, Takahiro Mitani has ruled out hedge funds as a possible asset class.

The GPIF is contemplating private equity style investment programs.

The solicitation went out in August 2012. These studies will be due by the end of March 2013. The feasibility study results will be presented to the Japanese public and to the members of fund’s investment committee for review in the future.

The firms selected are the following:

  • Brightrust PE Japan Co., Ltd.
  • Atsumi & Sakai, Japanese legal firm
  • Capital Dynamics
  • T&D Asset Management

Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Canadian Pension Giants Could Support Trans Mountain Pipeline Deal

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The British Columbian (B.C.) government and indigenous groups publicly oppose the Trans Mountain Pipeline project over a number of issues, which include environmental concerns (potential pipeline spills) and land protections. The threat of project derailment sent jitters to Houston-based Kinder Morgan, Inc., requiring the company to halt non-essential spending on Trans Mountain Pipeline L.P. Calgary-based Kinder Morgan Canada Limited, which owns the pipeline, is a listed company that is 70% owned by Kinder Morgan and 30% owned by stock market investors (float). Kinder Morgan Canada hired TD Securities to explore options regarding the future of the pipeline.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Goldman Sachs Poised to Name David Solomon as New CEO

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Goldman Sachs is poised to name David M. Solomon, the firm’s president, as its new CEO, replacing Lloyd C. Blankfein. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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