Engage with Japan's capital allocators

Bringing together the institutional capital shaping Japan’s private credit market. The Tokyo Forum is your opportunity to be in the room with the allocators setting the pace.

Hear directly from pension funds, insurers and other allocators on how they are deploying capital and managing risk in today’s market.

This is the go-to event for GPs raising capital in Japan.

Akane Hashimoto, HC Asset Management

"It was nice to connect with industry leaders including GP, LP and service providers."

Connect with 200 LPs, 2025 investors included:

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Meet Japan’s leading allocators

The most established forum in the region to advance LP relationships . 

Understand LP appetite

Hear directly from local allocators on how they’re reshaping portfolios amid macroeconomic shifts. 

Position your strategy

Get in front of a senior LP audience from the most recognised names in the region. 

Manabu Washio, Aksia

"It was a privilege to be part of such an engaging and insightful event."

2025 speakers included:

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Part of PDI Japan Korea Week

Two Forums, one week, unparalleled LP access. Private Debt Investor Japan Korea Week is your gateway to the investor connections you won’t meet anywhere else. Across the Seoul and Tokyo Forums you’ll meet 300 leading Korean and Japanese investors actively allocating in private credit.

Learn more

Apply for a complimentary Institutional Investor pass

A limited number of complimentary passes are available for allocators and institutional investors to join the event.

To qualify for a complimentary pass, you must meet the eligibility criteria in representing a pension fund, insurance company, sovereign wealth fund, private wealth manager, foundation, endowment, family office or corporate investment division who are actively making fund commitments and do not engage in third-party fundraising activities or collect fees for advisory/consulting services.

Apply for a pass and a member of our team will follow up with you.

Apply now

Discover your event experience

日本の資本と世界のプライベート・デットの架け橋

2024年6月27日(木)にて開催する第6回年次「PDI Tokyo Forum」では、世界各国のプライベート・デット・コミュニティーが一堂に集まり、グローバルな権限を有するグローバルなファンドマネージャーと日本の機関投資家とを結びつけます。

急激に変化するグローバル環境を鑑み、東京フォーラムでは、基準の設定、グローバルな機会の提示、貴社の業績アップに資するネットワークを構築する機会を提供し続けます。

最も信頼がおけるグローバルなプライベート・デットの情報発信の場「Private Debt Investor」の地位を活用するにあたり、このフォーラムは、日本における主要機関投資家との人脈づくりの場として、または影響力のあるグローバルなふぁんとの交流の場として最適です。

今年絶対にお見逃しなく
プライベートデットカンファレンスシリーズ

「PDI Tokyo Forum」は PDI Japan Korea Weekの閉幕フォーラムとして、東京でグローバルコミュニティと繋がり、グローバル市場洞察力を得るイベントです。

詳細へ

日本やグローバルな上級意思決定者と会える場所

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Why Tokyo Forum?

日本と世界の投資家コミュニティとの出会い

ゆうちょ銀行、第一生命保険、国立研究開発法人科学技術振興機構(JST)、ブラックストーン、HPSをはじめとする大物投資家と直接デット投資の戦略を交流することができます。

戦略的な優位性を獲得

投資家のニーズ変化と、さまざまな戦略への欲求が変更していることを理解できます。

対面での持続的な関係構築

日本の投資家やグローバルなプライベートクレジットのリーダーたちと情報交換し、今後のポートフォリオ戦略について話し合いましょう。

キーノートスピーカーに会う

松尾 匡氏(左)

10兆円規模の大学ファンドを運用する国立研究開発法人科学技術振興機構(JST)
マネージング・ディレクター
オルタナティブ投資統括責任者

日本で10兆円規模を誇る大学ファンドJSTから、同機構のオルタナティブ投資を強化するという方針に沿ったプライベートデット投資アプローチをご紹介いただきます。

Andrew Lockhart氏(右)

Metrics Credit Partners
マネージング・パートナー

PEとデットの機関投資家のAndrew Lockhart氏が、オーストラリアのプライベート・デットマーケットについての情報を共有してください。

プログラムを見る

2023 講演者陣

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このカンファレンスを構成する主要な話題:

  • 投資家はプライベートデットが今後のポートフォリオにどのような役割を果たすと見ているか?
  • 日本の投資家のデット戦略における重点はどこへシフトするのか、またどのようにレジリエンスを維持するのか?
  • リスク調整後のベストリターンに対するグローバルGPの洞察
  • 他にもたくさんあります。

イベントパンフレットを見る

機関投資家参加パス申請

資産機関と機関投資家の場合、イベントに参加できる限られた無料パスが提供されます。

参加パスの対象者には財団、基金、保険会社、シングルファミリーオフィス、政府系ファンド、公的・私的年金基金を代表する方々です。

第三者による資金調達活動を行わず、助言やコンサルティングサービスに対する手数料を徴収していないことが条件となります。また、パスは主に自己勘定でファンドに投資する機関に限定されます。

以下のフォームにご申し込むと、うちのチームメンバーが参加確定のためにご連絡いたします。

申込みはこちらへ

Join us again

October 17-18, 2023
Hilton Munich City

Capitalising opportunities across private debt

Learn more

March, 2024
Singapore

Connecting APAC and global private debt markets

Learn more

2026 Agenda

Interested in speaking opportunities? Contact our producer niann.l@pei.group

View past agenda

Day 1 Day 2
View agenda page

Agenda

PDI Tokyo Forum 2026 - Thursday 16th

All times in JST (UTC+9); Simultaneous interpretation between Japanese and English provided
08:00 - 09:00

Registration and networking refreshments

08:15 - 09:00

Workshop: Beginner's guide to private debt

This foundational workshop is designed for professionals who are new to private debt or seeking a comprehensive understanding of private debt. The expert-led session will walk through the full spectrum of private debt, from its core structures to emerging strategies, terminology, structures and market dynamics. This is designed for new private debt investors and junior professionals.

09:00 - 09:10

Opening remarks

09:10 - 09:20

Opening LP keynote

09:20 - 10:00

Keynote panel: Success and setbacks: Navigating the realities of today's private debt markets

Alex Lynn
  • How GPs are positioning private credit as strategic pillar, and what lessons emerge from firms that scaled too quickly or misjudged sector-specific risks
  • What lessons can be drawn from in the market dislocation in the US and the recent volatility in Europe?
  • As private credit edges toward mainstream status, what cautionary tales remind GPs that liquidity, transparency, and governance still matter?
  • With rising interest in open-end, evergreen, and separately managed account (SMA) formats, how are managers balancing flexibility with long-term performance?
A speaker photo for Alex Lynn

Alex Lynn

Hong Kong Bureau Chief, PEI Group

Read bio
10:00 - 10:40

Panel: Direct lending across North America, Europe and developed APAC

  • The opportunity set in each region and where do managers see the next wave of opportunity?
  • Comparing sponsored vs non-sponsored lending – How do the risk-return profiles look like?
  • How is the rise of payment-in-kind interest affecting direct lending?
10:40 - 11:10

Networking break

11:10 - 11:30

Presentation: Introduction to asset-backed finance (ABF)

  • The definition of ABF
  • The driver of the expansion of the ABF
  • Asset-backed finance (ABF) and asset-based lending (ABL) are some of the most popular strategies available to private credit investors – what are the differences?
11:30 - 12:10

Panel: The rise of ABF

Jingjing Bai
  • How did the shifting macroeconomic outlook impact the demand for ABF over the past few years?
  • How does ABF compare with other segments of private credit in terms of risk-return profile?
  • Spotlight on APAC real estate debt – investor intentions and allocation plan
  • How has appetites for infrastructure debt evolved in the last 12 months?
A speaker photo for Jingjing Bai

Jingjing Bai

Senior Advisor, Bfinance

Read bio
12:10 - 13:50

Networking lunch

Stream A
13:30 - 13:35

Afternoon remarks

13:35 - 14:10

Panel: The outlook of upper vs lower middle market lending

Saina Chiba
  • In a higher-for-longer rate and higher defaults environment, what can investors expect in the upper, core and lower mid-market?
  • What additional underwriting considerations are now required?
  • What is the outlook and are there any challenges facing the lower-mid market and its investors in 2026?
A speaker photo for Saina Chiba

Saina Chiba

Director, Astris Advisory

Read bio
14:10 - 14:15

Transition

14:15 - 14:50

Panel: The growth of NAV / fund finance

  • Market outlook and emerging trends across NAV lending, real estate, infrastructure debt
  • Long-term performance outlook for fund finance in alternative asset classes
  • How real asset strategies are reshaping fund-level financing structures
14:50 - 14:55

Transition

14:55 - 15:30

Panel: Opportunistic credit, special situations and capital solutions

Ken Shimasaki
  • How are rising interest rates and market volatility influencing default cycles?
  • What defines capital solutions, how does the opportunity set differ from traditional distressed debt?
  • What special situation opportunities will likely emerge over the next 12 months?
  • How are managers approaching loan workout today compared to during the financial crisis?
A speaker photo for Ken Shimasaki

Ken Shimasaki

Senior Portfolio Manager, Daiwa JPI Alternative Investment Management

Read bio
Stream B
13:30 - 13:35

Afternoon remarks

13:35 - 14:10

Panel: What's new in the CLO market?

  • Overview of the CLOs (collateralized loan obligations) market in US and Europe and the dynamics driving activities
  • What is Japanese LPs’ sentiment for CLOs and how do CLOs best fit into LPs’ portfolios?
  • What themes impacting the market going forward?
  • Syndicated the relativeness of equity and debt
14:10 - 14:15

Transition

14:15 - 14:50

Panel: Entering the era of speciality finance

  • Where is the NPL opportunity today?
  • Examine how niche sectors like litigation, healthcare and consumer receivables offer structured resilience amid tariff-driven cost pressures and credit tightening
  • Where are the new subsectors emerging?
14:50 - 14:55

Transition

14:55 - 15:30

Panel: Private credit secondaries

  • Why is private debt secondaries gaining traction among global investors and what’s fueling this surge in demand?
  • The role of continuation vehicles (CVs) in private credit
  • How are allocators navigating concerns around limited transparency and lack of standardization in pricing and deal structures?
Plenary
15:30 - 16:00

Networking Break

16:00 - 16:20

Presentation: PDI market data and trends

Andrew Rodriguez
A speaker photo for Andrew Rodriguez

Andrew Rodriguez

Senior Research Associate, PEI Group

Read bio
16:20 - 17:00

LP insight panel: Japanese insurers' appetite for private credit

Shotaro Sese
A speaker photo for Shotaro Sese

Shotaro Sese

Senior Manager, Sony Bank

Read bio
17:00 - 17:05

Closing remarks

17:05 - 18:30

Networking drinks

18:30 - 18:30

End of Day one

Agenda

PDI Tokyo Forum 2026 - Friday 17th

All times in JST (UTC+9); Simultaneous interpretation between Japanese and English provided
08:00 - 09:00

Registration and networking refreshments

08:00 - 08:30

LP-only breakfast

An exclusive networking opportunity for LPs to get together to discuss their investing priorities and biggest concern about the asset class prior to the conference.

08:15 - 09:00

PDI Network: Speed networking

Take part in rotating quick matching networking with other PDI Network members based on your criteria.

09:00 - 09:05

Welcome remarks

09:05 - 09:20

Opening LP keynote

09:20 - 10:00

Panel: Golden opportunities in Japan's private credit space

Hiroshi Nonomiya
  • The current landscape in private credit market
  • The growth of high-net-worth individuals and private wealth in Japan
  • Why more global GPs open their first office in Japan
  • Strategic collaboration and co-investment opportunities
A speaker photo for Hiroshi Nonomiya

Hiroshi Nonomiya

Representative Director, Crosspoint Advisors, Inc

Read bio
10:00 - 10:20

Presentation: Risk analysis across the capital stack in private debt strategies

10:20 - 10:50

Fireside chat: Venture debt and growth lending

  • The state of venture debt market
  • Understand how venture debt differs from loans and equity financing
  • When to consider venture debt and what to consider before taking on venture debt
10:50 - 11:20

Networking break

11:20 - 12:00

Panel: Comparing private debt with liquid investments

  • Private credit has not become just a supplement but a substitute for syndicated loans, bank loans and bonds. Explores return expectations, liquidity trade-offs, and risk analysis across these investment types.
  • Leveraging asset origination across the risk spectrum to repackage and distribute exposure — core strategies for managing credit risk and enhancing investor appeal
  • Understand the mechanics and market impact of PIK (paid-in-kind) instruments in both syndicated and private markets, with a spotlight on their role in business development companies and investor protections
12:00 - 12:40

LP insight panel: Why private credit remains a strong portfolio opportunity

Mattias Karnell, Yayoi Sagae, Junichi Yonezawa
  • What is LPs view on the attractiveness of private credit
  • Examine the role of private credit in institutional portfolios
  • How past due diligence experiences have shaped LP decision-making
  • To what degree should LPs diversify their private credit exposure away from the direct lending and into opportunistic credit?
A speaker photo for Mattias Karnell

Mattias Karnell

Director, Teneo Partners Japan

Read bio
A speaker photo for Yayoi  Sagae

Yayoi Sagae

Managing Director and Head of Alternative Investment Department, Nomura Asset Management

Read bio
A speaker photo for Junichi Yonezawa

Junichi Yonezawa

Head of Alternative Investments, Norinchukin Zenkyoren Asset Management Co., Ltd

Read bio
12:40 - 12:45

Closing remarks

12:45 - 13:30

Networking luncheon

Wrap up the conference with networking! Meet and lunch with a wide range of industry peers and potential partners — Gain actionable insights from industry peers and leaders, make valuable connections with like-minded professionals

13:30 - 14:30

PDI Women's Circle - Asia

Off-the-record lunch meeting for women within the network

14:30 - 14:30

End of PDI Tokyo Forum

Raise your profile among senior private debt decision-makers

Build and develop your company’s brand image, strengthen your market credibility, and meet your investment and business goals. Sponsorship gives you:

  • VIP access
  • Thought-leadership opportunities
  • High-profile branding
  • And much more …

For more information on available sponsorship opportunities, please contact Beth Piercy at beth.p@pei.group or call +44 20 7566 5464.

2025 Sponsors

機関投資家参加パス申請

資産機関と機関投資家の場合、イベントに参加できる限られた無料パスが提供されます。

参加パスの対象者には財団、基金、保険会社、シングルファミリーオフィス、政府系ファンド、公的・私的年金基金を代表する方々です。

第三者による資金調達活動を行わず、助言やコンサルティングサービスに対する手数料を徴収していないことが条件となります。また、パスは主に自己勘定でファンドに投資する機関に限定されます。

以下のフォームにご申し込むと、うちのチームメンバーが参加確定のためにご連絡いたします。

無料パスを申し込む

日本やグローバルな上級意思決定者と会える場所

Investors at PDI Tokyo Forum

The Forum is the largest meeting place for institutional and private investors, and other members of the private debt community in Japan.

Apply for a complimentary pass for you or your team today.

View 2025 PSR

機関投資家参加パス申請

資産機関と機関投資家の場合、イベントに参加できる限られた無料パスが提供されます。

参加パスの対象者には財団、基金、保険会社、シングルファミリーオフィス、政府系ファンド、公的・私的年金基金を代表する方々です。

第三者による資金調達活動を行わず、助言やコンサルティングサービスに対する手数料を徴収していないことが条件となります。また、パスは主に自己勘定でファンドに投資する機関に限定されます。

以下のフォームにご申し込むと、うちのチームメンバーが参加確定のためにご連絡いたします。

無料の投資家パスの対象は、財団、基金、信託、保険会社、シングルファミリーオフィス、政府系ファンド、年金基金など、ファンドへの投資を積極的に行い、第三者の資金調達活動を行わず、アドバイザリー/コンサルティングサービスで手数料を受け取らない機関投資家に限られます。

無料パスを申し込む

Contact our producer, Niann Lai at Niann.l@pei.group if you’re interested in speaking at the conference.

View past agenda

2026 Speakers:

Jingjing Bai

Senior Advisor, Bfinance

Saina Chiba

Director, Astris Advisory

SangHoon Ji

Managing Director, Constellar Capital Partners

Mattias Karnell

Director, Teneo Partners Japan

Alex Lynn

Hong Kong Bureau Chief, PEI Group

Ian Milton

Founder, Mercia Capital Partners

Maiko Nanao

Managing Director, Co-Head of Asia Investments, Aksia

Hiroshi Nonomiya

Representative Director, Crosspoint Advisors, Inc

Shinya Obata

Chief Product Specialist & Lead of Private Debt Fund Investments, Mitsubishi UFJ Trust and Banking

Andrew Rodriguez

Senior Research Associate, PEI Group

Yayoi Sagae

Managing Director and Head of Alternative Investment Department, Nomura Asset Management

Shotaro Sese

Senior Manager, Sony Bank

Ken Shimasaki

Senior Portfolio Manager, Daiwa JPI Alternative Investment Management

Junichi Yonezawa

Head of Alternative Investments, Norinchukin Zenkyoren Asset Management Co., Ltd

Introducing the Private Debt Investor Network

A year-round community designed to connect, inform, and empower private debt professionals.

Raise capital. Navigate shifting markets. Find the right deals. Stand out with LPs.

As a private debt professional, the road to success is complex, but you don’t have to travel it alone.

The Private Debt Investor Network, powered by PEI’s global insights and LP relationships, gives you the tools and connections to grow your firm and thrive in your role.

Join now for a strong professional community

Your Launchpad: PDI Tokyo Forum

Step into a premier gathering of Japanese allocators and global managers. The PDI Tokyo Forum is your gateway to new investors, actionable insights, and best-in-class private credit strategies.

Join now for industry best practices

Unmatched Access to LPs

Fundraising shouldn’t stop after the Forum. As a member, you’ll gain year-round invitations to regular allocator meetings — where relationships deepen and opportunities grow.

Join now for enhanced access

Personalised Member Support

You’re never just a name on a list. Your dedicated Network Manager will:

  • Make custom LP introductions
  • Help you build your peer network
  • Connect you with relevant advisors

Plus, our Member Directory helps you stay connected across the community.

Join now for a personalised experience

Insights That Power Performance

Break through the noise with curated research, real LP perspectives, and analysis tailored to your needs. Make faster, smarter decisions that position your firm to win.

Join now for the latest insights

Thanks for your interest

Thank you for your interest in the PDI Tokyo Forum 2026 on 16-17 April. Your requested resource will be emailed to you shortly.

If you do not receive an email from us, please reach out to customerservices@pei.group.

Explore our event website for more information and secure your seat here, we look forward to seeing you in April.