AustralianSuper Plans to Double Private Equity Assets in Four Years
- New target would set aside around A$35 billion for asset class
- CIO Mark Delaney anticipates an increase in deals after a lull
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AustralianSuper, the country’s largest pension fund, plans to almost double its private equity assets over the next four years as deals pick up following a lull spurred by higher borrowing costs.
The fund, which oversees A$330 billion ($215 billion) of assets, is seeking to boost its private equity allocation to as much as 9% of its portfolio from 5% currently, Chief Investment Officer Mark Delaney said in an interview. That will eventually lift total volumes to around A$35 billion, he said.