# Pension Fund Association for Local Government Officials

Pension Fund Association for Local Government Officials is a Public Pension Fund based in Tokyo, Japan.

## Overview

- **Organization type:** Public Pension Fund
- **Headquarters:** Tokyo, Japan
- **Region:** Asia
- **Address:** 1-1, Uchisaiwaicho 2, Chiyoda-ku, Tokyo 100-0011 Japan
- **Founded:** 1984
- **Assets under management:** 264000 (Altss estimate)
- **Website:** chikyoren.or.jp
- **LinkedIn:** https://www.linkedin.com/company/%E5%9C%B0%E6%96%B9%E5%85%AC%E5%8B%99%E5%93%A1%E5%85%B1%E7%9B%A3%E7%B5%84%E4%BC%9A%E9%80%A3%E5%90%88%E4%BC%9A

## Regulatory record

- **Reports private funds:** No

## About

The Pension Fund Association for Local Government Officials (PAL, or Chikyoren) formed in 1984. It stabilizes pension finance and manages long-term benefits for member associations. It sets aside and manages a pension reserve fund that supplies shortfalls for mutual aid associations.

## Sectors

- Private Equity
- Real Estate
- Infrastructure

## People

- Tatsuya Morishita — Chief Investment Officer

## Questions

### Who runs investment decisions at Pension Fund Association for Local Government Officials?

Tatsuya Morishita holds the chief investment officer role. Investment execution occurs through external mandates rather than an internal trading desk.

### How does Pension Fund Association for Local Government Officials source proprietary deal flow?

The firm selects managers through formal mandates rather than sourcing direct deals. Relationships with UBS Asset Management, Invesco, and Mizuho have been in place since at least 2016.

### What investment stages does Pension Fund Association for Local Government Officials typically target?

Private equity exposure includes buyout and secondaries strategies. Real estate mandates focus on core and core-plus properties in Japan and the United States.

### How is Pension Fund Association for Local Government Officials related to Government Pension Investment Fund?

It belongs to the group of four major Japanese public pension entities and aligns strategic asset allocation and ESG policies with GPIF practices.

## Related profiles

- [Emirates NBD](https://altss.com/profile/emirates-nbd)
- [Pensioenfonds Zorg en Welzijn](https://altss.com/profile/pensioenfonds-zorg-en-welzijn)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/pension-fund-association-for-local-government-officials

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