Kewpie Pension Fund

Kewpie Pension Fund

Kewpie Pension Fund was established to administer defined benefit obligations for Kewpie Corp employees and retirees. The sponsor is the Tokyo-based food products manufacturer whose brands include mayonnaise and dressings. Kosuke Okimori serves as Managing Director and Executive Investment Director. The fund allocates across multiple asset classes. Positions include a US core real estate portfolio, European real estate debt, domestic Japanese real estate via privately placed REITs, global farmland through specialized managers, insurance-linked securities and infrastructure assets. It also commits to private equity, US direct lending and European private debt funds as a limited partner. Geographic exposure spans Japan, the United States and Europe. Assets total 612 million USD. The fund participates in the Japan Corporate Pension Network and AIMA. It maintains relationships with Nomura Fiduciary Research & Consulting and Mitsubishi Jisho Investment Advisors. Service providers include Duxton Asset Management, Proterra Investment Partners, Hancock Agricultural Investment Group, PGIM Japan, UBS Asset Management and HSBC Asset Management. Mizuho Trust & Banking acts as custodian. The associated Kewpie Mirai Tamago Foundation, established in 2017, supports children's food education programs in Japan. The fund's structure ties investment decisions directly to the corporate sponsor while relying on external managers for implementation. This captive model limits external capital raising and focuses mandates on income generation and diversification for the closed population of beneficiaries.