AVCJ Private Equity & Venture Forum Japan 2023
The premier private equity & venture forum in Japan
The Conrad, Tokyo and online
27
Jun
LP viewpoint: Staying committed through the cycle
Institutional investors globally have been forced to contend with a shift from buoyant markets and the risk of under-allocation to private equity to volatility and the reality of over-allocation. The Japanese experience – as far as international portfolios are concerned – has been exacerbated by currency depreciation. Recent entrants to the alternatives space may consider pulling back, but wiser heads counsel maintaining exposure across cycles. A panel of experienced LPs offer insights into strategy and manager selection.
- Which geographies are most likely to generate alpha?
- How are LPs approaching currency hedging?
- Are GPs being disciplined enough on portfolio valuations?
- What are the expectations for distributions in 2023?
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SpeakersTatsuya Kubo Managing Director HARBOURVEST PARTNERS (JAPAN) LIMITED
Noriko Hayashi Managing Director, Head of Private Equity ORIX LIFE INSURANCE CORPORATION
Masashige Ueno Sr. Chief Manager, Private Asset Office, Fund Research & Development Division MITSUBISHI UFJ TRUST AND BANKING CORPORATION
Noboru Nishida Managing Director, Chief Investment Officer DENSO PENSION FUND
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Tatsuya Kubo joined the Firm in 2010 as a managing director. He focuses on enhancing and building relationships with institutional investors and general partners in Japan. Mr. Kubo joined the Firm from Fortress Investment Group Japan, where he served as Managing Director and Head of Business Development after launching the Japan-based business. Prior to that, he spent over 20 years as a senior manager at Norinchukin Bank, one of the largest financial institutions in Japan, where he built and managed an alternative investment portfolio. He received a BA in Economics from Waseda University in 1988 and an MBA from Duke University in 1994. Mr. Kubo speaks fluent Japanese and English.
Noriko Hayashi is Managing Director, Head of Private Equity at ORIX Life Insurance Corporation.
She has been involved in framework building, implementing, portfolio construction and management of a global private markets program for institutional investors with primary focus on Private Equity; currently at ORIX Life Insurance Corporation, previously at Government Pension Investment Fund (GPIF) and firstly at Sony Life Insurance Co., Ltd., since 2000. She started her career at Mitsubishi Bank, Ltd. (MUFG Bank, Ltd.) where she covered Corporate Finance and Operational Improvement in commercial banking business.
She received a B.A. in Law from Kyoto University.
Masashige Ueno joined MUTB in 2016. He is responsible for private fund investments, such as private equity, private debt, infrastructure and real estate, in its asset management business unit. Before joining MUTB, he spent more than 20 years at Sumitomo Mitsui Banking Corporation and SMBC Nikko Securities where he was engaged in various banking and securities businesses, including principal investments in private funds and investment product development for institutional investors. Bachelor of Engineering and Master of Engineering from Kyoto University. MBA, Fisher College of Business at the Ohio State University.