The asset management arm of Japan’s largest insurer will expand its team managing private equity and other alternative investments, betting on more strong growth in the market.
Nissay Asset Management plans to hire five to seven people to oversee assets such as private equity and infrastructure finance, said Kaoru Onishi, head of the global product division. It has about 30 employees now in its alternative investment business.
"It is an expanding field. We need more people,” said Onishi, whose firm manages more than ¥2.5 trillion ($17 billion) of clients’ funds parked in alternative assets. "But there are not so many who are experienced in the field, so we think they can build up speciality” after they are hired, she said in an interview.
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