Australian pension giant eyes US and UK with £7bn investment pot
AustralianSuper has said it will invest A$13bn (£7bn) into private equity globally over the next two years.
The Australian pension giant, which has A$260bn under management, said it will increase its allocation to private equity from 5% today to 7% by 2024 as part of its strategy to increase investment in unlisted assets.
The fund’s overall private equity investment will lift to A$26bn over the next two years to help grow the private equity portfolio to A$50bn within five years.
AustralianSuper has said it will invest A$13bn (£7bn) into private equity globally over the next two years.
The Australian pension giant, which has A$260bn under management, said it will increase its allocation to private equity from 5% today to 7% by 2024 as part of its strategy to increase investment in unlisted assets.
The fund’s overall private equity investment will lift to A$26bn over the next two years to help grow the private equity portfolio to A$50bn within five years.
Around A$9.5bn of the new commitment will be invested in the US, where the fund is targeting a range of sectors including healthcare, technology, industrials, consumer and financials.
In the UK, AustralianSuper will invest in a diversified portfolio, both by investment style and type, and sector.
AustralianSuper’s head of private equity, Terry Charalambous, said: “The fund is working with leading general partners to source opportunities, including management buyouts, growth equity financing and public to private transactions.”
The fund’s London office is focused on investing in private markets, where it has A$72bn invested globally. This is targeted to grow to A$100bn by June 2024.
AustralianSuper opened a New York office last year and expects to have just over 100 people in London and just under 100 in New York by end of 2024.
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