Junechi Umezu

Dai-Ichi is the second largest provider of life insurance in Japan, measured by revenue, and its assets total more than $300 billion. The firm manages about $3.5 billion in alternative investments which includes $2 billion in hedge funds and $1.5 billion in private equity commitments. The NY office of Dai-Ichi works only with managers based in North America, while the firm has additional offices in London and Tokyo which handle European and Asian investments, respectively.Currently about 90% of the firm's hedge fund exposure is invested via funds of funds. The firm's allocation to hedge funds will not increase during 2011, however the firm will continue to monitor new managers and has the ability to replace existing managers if it finds a better opportunity.Dai-Ichi currently has about $1.5 billion invested in private equity funds globally. About 60% is invested in funds focused on North America, 20% in funds focused on Asia, and 20% in funds focused on Europe. The majority of the investments are through single-manager large-mega cap buyouts funds but the firm has also investments in a venture capital fund of funds and a secondaries fund of funds. The firm has no investments in distressed or mezzanine funds. Prior to 2008, the firm used to invest $100-150 million annually into private equity, but since then there has been no set annual amount and it varies year to year.Dai-Ichi underwent a demutualization in April of 2010 and issued an IPO in Tokyo.