Australia Pensions Step Up Private Asset Scrutiny, Stafford Says
- Funds asking for more detailed information, asset manager says
- Regulators want more accountability, consistency: ASIC
Australian pension funds are tightening scrutiny of their private assets as regulators raise more questions about disclosure and valuations, according to asset manager Stafford Capital Partners.
The nation’s top two pensions last month revealed losses on their investments in unlisted US education software firm Pluralsight Inc., highlighting the risks around private assets that regulators have been flagging in recent months. AustralianSuper wrote off A$1.1 billion ($750 million) as private credit lenders took control of the firm, while Australian Retirement Trust lost A$75 million.