Key Takeaways
- • Kijima Kozo promoted to sole head of real estate at Japan's Government Pension Investment Fund (GPIF), assuming the role from co-head position following the departure of private markets chief Yoshitaka Todoroki.
- • Kozo brings 6+ years of cross-border real estate investment experience from Sumitomo Mitsui Trust Bank and 4 years in private banking at Société Générale's Singapore office, alongside tenure as director in GPIF's real estate and alternative investment team since 2018.
- • South Korea's Teachers' Pension names Baek Joohyun as chief investment officer to oversee approximately 30 trillion won ($20 billion) in assets, with Baek transitioning from a similar role at Government Employees Pension Service where he led the acquisition of a 25 percent stake in UK real estate manager Savills IM.
- • Canada's OMERS expands Michael Hill's mandate as global head of infrastructure and private equity as part of broader leadership restructuring at the Canadian pension fund.
Summary
Japan's Government Pension Investment Fund has elevated Kijima Kozo to sole head of real estate, consolidating leadership of the pension fund's property investment strategy. The promotion represents an internal advancement following the recent departure of Yoshitaka Todoroki, the fund's private markets chief. Kozo's appointment ends a dual-leadership structure and signals GPIF's confidence in his strategic direction for the division within one of the world's largest pension funds.
Kozo's career trajectory demonstrates significant expertise in institutional real estate investment. Since joining GPIF in 2018 as a director in its real estate and alternative investment team, he has progressed to co-head of the division. Prior to GPIF, Kozo spent six years at Sumitomo Mitsui Trust Bank advising on cross-border real estate transactions and four years as a director in Société Générale's Singapore private banking arm, positioning him with both Asian market experience and international institutional investor relations capabilities.
In parallel leadership movement across Asia Pacific's institutional investor ecosystem, South Korea's Teachers' Pension has appointed Baek Joohyun as chief investment officer, tasking him with oversight of approximately 30 trillion won ($20 billion) in assets. Baek transitions from his role as chief investment officer at Government Employees Pension Service, a position he has held since 2022. His appointment succeeds Jun Beomsik, who departed to lead the National Federation of Fisheries Cooperatives. Notably, Baek brings significant real estate sector experience, having spent a decade at Samsung Life Insurance where he led the acquisition of a 25 percent stake in UK-based real estate manager Savills IM—demonstrating institutional real estate asset class experience aligned with his expanded CIO responsibilities.
Additionally, Canada's OMERS pension fund has appointed Michael Hill as global head of infrastructure and private equity, expanding his existing mandate as part of a coordinated leadership reshuffle. These concurrent personnel movements across major Asia Pacific and North American pension funds reflect broader organizational evolution within institutional asset managers during 2026.
Kozo's career trajectory demonstrates significant expertise in institutional real estate investment. Since joining GPIF in 2018 as a director in its real estate and alternative investment team, he has progressed to co-head of the division. Prior to GPIF, Kozo spent six years at Sumitomo Mitsui Trust Bank advising on cross-border real estate transactions and four years as a director in Société Générale's Singapore private banking arm, positioning him with both Asian market experience and international institutional investor relations capabilities.
In parallel leadership movement across Asia Pacific's institutional investor ecosystem, South Korea's Teachers' Pension has appointed Baek Joohyun as chief investment officer, tasking him with oversight of approximately 30 trillion won ($20 billion) in assets. Baek transitions from his role as chief investment officer at Government Employees Pension Service, a position he has held since 2022. His appointment succeeds Jun Beomsik, who departed to lead the National Federation of Fisheries Cooperatives. Notably, Baek brings significant real estate sector experience, having spent a decade at Samsung Life Insurance where he led the acquisition of a 25 percent stake in UK-based real estate manager Savills IM—demonstrating institutional real estate asset class experience aligned with his expanded CIO responsibilities.
Additionally, Canada's OMERS pension fund has appointed Michael Hill as global head of infrastructure and private equity, expanding his existing mandate as part of a coordinated leadership reshuffle. These concurrent personnel movements across major Asia Pacific and North American pension funds reflect broader organizational evolution within institutional asset managers during 2026.
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