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Mizuho Alternative Unit Targets $1.2 Billion From Pension Funds

Mizuho Global Alternative Investments Ltd. aims to raise 100 billion yen ($1.2 billion) in three years after starting this month to help Japanese pensions invest in hedge funds.

The firm, a wholly owned unit of Mizuho Corporate Bank Ltd., began on Oct. 5 to provide alternative investment products such as hedge funds to Japan’s corporate pensions and institutional investors, said Akira Muto, chief executive officer of the Tokyo-based firm. In five years, the company aims to increase its assets from clients to 200 billion yen by introducing overseas hedge funds, he said.