Japan’s Pension Fund Association for Local Government Officials, known locally as Chikyoren, has hired local property manager TLC REIT Management Inc. for a domestic real estate mandate of unspecified value.
The pension fund has also appointed Mizuho Trust and Banking to provide investment services for the mandate, it says in a brief statement on February 21. It did not say when the tender was opened.
This is Chikyoren’s third domestic real estate mandate in less than a year. One mandate was awarded to Mitsui Fudosan Investment Advisors last June and the other to Singapore-based investment firm GLP in July.
Chikyoren, Japan’s second largest pension fund, had 14.65 trillion yen (US$130.8 billion) of assets under management as of September 2021.