Japan Post Bank is set to launch a new private equity (PE) investment unit to further expand its asset allocation capabilities.
The bank is planning to open the new PE division on 1 December 2015.
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The new investment arm will be headed by Tokihiko Shimizu, who led the research department of Japan’s Government Pension Investment Fund’s (GPIF) drive to diversify its allocation of money into alternative assets including PE and property.
The move comes after the shares of Japan Post surged nearly 26% in their trading debut after the company and its banking and insurance units raised a combined JPY1.4trn in an initial public offering.
The bank currently manages total assets of JPY204 trillion, almost half of which are in Japanese government bonds.
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