Australia’s IFM Investors to Wind Down Private Equity Unit

Australian investment manager IFM Investors will wind down its domestic private equity unit in coming years, citing a lack of scale to make it commercially viable and a focus on other global priorities.

The A$254 billion ($168 billion) firm’s mid-market private equity unit is worth about A$1 billion. IFM is best known for the around A$125 billion it has invested in unlisted infrastructure, and has large allocations across private debt, listed equities and real estate.