AustralianSuper to add at least 10 more PE partners by 2030: FT
AustralianSuper, one of Australia's largest superannuation funds, is planning to expand its private equity (PE) partnerships. According to Financial Times, the fund aims to add at least 10 more PE partners by 2030. This strategic move comes as part of the fund's broader effort to diversify its investment portfolio and enhance returns [1].
AustralianSuper's investment communications manager, Sam Weaner, acknowledged that the fund has faced challenges due to its reliance on unlisted assets. However, the fund is doubling down on unlisted assets, including private equity, to broaden its investment universe and improve portfolio diversification [2]. Weaner noted that the fund is constantly scanning global regions to secure deal flow and access new opportunities.
The expansion of PE partnerships is part of AustralianSuper's ongoing strategy to build offshore capability, particularly in the US. The fund has already established a significant presence in New York, with plans to increase its staff count to 120 by 2026 [3]. This expansion is driven by the belief that the US remains a critical focus for global investment, given its robust fundamentals and strong corporate earnings driven by themes such as AI [4].
The decision to add more PE partners is also influenced by the fund's long-term performance and the need to meet its long-term return objectives. According to Chant West, super funds have returned 10.4 per cent over FY25, driven by strong share market performance and resilient long-term returns. However, the outlook for FY26 remains uncertain due to the current strength of valuations and lingering global worries [5].
In conclusion, AustralianSuper's plan to add at least 10 more PE partners by 2030 reflects its strategic focus on diversifying its investment portfolio and enhancing returns. This move is part of a broader effort to build offshore capability and capitalize on global investment opportunities.
References:
[1] https://www.ft.com/content/97587593-1234-11ee-87d3-02969562f633
[2] https://www.superreview.com.au/news/superannuation/australiansuper-doubles-down-unlisted-assets-despite-lag
[3] https://www.superreview.com.au/news/superannuation/super-funds-rise-global-markets-gain-ground
[4] https://www.superreview.com.au/news/superannuation/australiansuper-doubles-down-unlisted-assets-despite-lag
[5] https://www.superreview.com.au/news/superannuation/super-funds-rise-global-markets-gain-ground
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