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Why the Launch of Japan Post Investment Corp is Huge News?

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The complex game of asset owner direct investing just got even more interesting. Japan Post investment officials recognize that the implementation of the 2014 stewardship code, coupled with increased equity participation in listed Japanese equities by domestic pensions is forcing more efficiency within these companies. A number of Japanese businesses have stepped back from conglomerate-building to shed off non-core businesses such as institutional real estate to boost return on equity (ROE) measures.

Larger Japanese corporations are spinning off divisions to boost internal rates of return. In late 2016, KKR agreed to buy Calsonic Kansei, which was 41% owned by automaker Nissan Motor Company Ltd. The side effects of the stewardship code has encouraged these types of transactions. Major Japanese banks are also happy to provide these types of loans to finance such transactions.

Japan Post Bank Co. and Japan Post Insurance Co. combined internal resources to back an asset management platform that is going to partake in Japanese private equity investments. Japan Post Bank already invests in private equity funds as a limited partner, forming its private equity unit in December 2015. In addition, Japan Post Bank already deploys capital toward select co-investments and secondaries. This move to create a platform is a gamechanger, as Japan Post Holdings has a massive balance sheet.

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CalPERS Commits $5 Billion Toward US Enhanced Equity Strategy

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The California Public Employees’ Retirement System (CalPERS) moved US$ 5 billion toward an internally-managed U.S. enhanced equity strategy. This falls under the global equity bucket at CalPERS.

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Chinese SAFE Investment Company Sells Off Stake in Ropemaker Place

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Singapore-listed property company Ho Bee Land, acquired a prime office at 25 Ropemaker Place, EC2, located in the City of London, for £650 million. The property went up for sale in December 2017.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norway SWF Adds to Existing Investment in Central London

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On June 15, 2018, Norges Bank Real Estate Management, the manager of Norway Government Pension Fund Global, acquired 25 percent of a long leasehold interest in 30 Warwick Street in central London, in joint venture with The Crown Estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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