Japan's GPIF appoints second global infrastructure fund-of-funds manager

Japan’s Government Pension Investment Fund (GPIF) has hired a second fund-of-funds manager for its global infrastructure mandate.

The world’s largest pension fund with JPY162trn (€1.23trn) of managed assets has awarded the mandate to investment manager Pantheon and has appointed Nomura Asset Management Company as gatekeeper.

GPIF said the second appointment is part of its plan to implement a multi-manager strategy through a fund-of-funds to pursue fund investments and co-investments. 

Last month, IPE Real Assets reported that GPIF had hired its first fund-of-funds manager by awarding a global infrastructure mandate to StepStone Infrastructure & Real Assets and has appointed Sumitomo Mitsui Asset Management Company as gatekeeper.

These announcements follow a call for applications from infrastructure and real estate multi-managers in April last year.

In December last year, the pension fund revealed it had chosen Mitsubishi UFJ Trust and Banking Corporation for domestic real estate.

It is expected that GPIF will announce their overseas real estate fund of fund manager soon. 

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