Japan鈥檚 Government Pension Investment Fund (GPIF), the largest pension fund in the world, is among investors in Blackstone鈥檚 global real estate fund that raised more than US$30bn (鈧�26.9bn) earlier this year.
In its latest annual report, GPIF has confirmed that it committed US$500m to Blackstone Real Estate Partners X.
The report also shows that the size of the pension fund, which was established in 2001, had exceeded 楼200trn (鈧�1.4trn) for the first time, while its real estate portfolio increased over 12 months from 楼773bn to 楼919bn.
Based on previous figures, GPIF was ranked 81st in 91传媒在线鈥檚 top 150 ranking of institutional real estate investors, just above Italy鈥檚 Enpam and below Australia鈥檚 Hostplus.
GPIF already employs three fund-of-funds managers to run its real estate exposure, including a domestic-focused mandate with Mitsubishi UFJ Trust Bank and a global mandate with CBRE Investment Managers. Most recently, it hired LaSalle Investment Management for a core mandate.
The annual report also showed that GPIF鈥檚 infrastructure investments had risen to 楼1.45trn. The pension fund recently hired EDHEC Infrastructure and Private Assets (EDHECinfra) to evaluate the fair value of the portfolio.
To read the latest edition of the latest 91传媒在线 magazine click here.
