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Japan’s Chikyoren hires Nomura, Tokio Marine for infrastructure mandate

Chikyoren
By Hui Ching-hoo   
November 30, 2021

Japan’s Pension Fund Association for Local Government Officials has hired Nomura Asset Management and Tokio Marine Asset Management for an overseas infrastructure mandate.

The pension fund, Japan’s second largest and known locally as Chikyoren, issued a brief statement on the appointment on November 25 without specifying the value of the mandate or when it opened the tender.

It also appointed UK private equity manager Pantheon Ventures to provide mandate investment and administration services to Nomura, and BlackRock Financial Management Inc. for Tokio Marine.

This is Chikyoren’s second infrastructure mandate of 2021. The first one in March, which was a domestic infrastructure mandate, was also outsourced to Tokio Marine.

The fund typically does not disclose the value of mandates in its public statements.

Chikyoren had 13.54 trillion yen (US$119.2 billion) of assets under management as of September 2021.