AustralianSuper will invest another $13 billion in private equity over the next two years, with the lion’s share targeting United States-based deals, in a bid to jump-start returns through the super fund’s unlisted assets.
Of the fresh investment, $9.5 billion will be ploughed into US private equity deals in the healthcare, technology, industrials, consumer and financial sectors, bringing the overall allocation to private equity from 5 per cent to 7 per cent by 2024.
AustralianSuper, Australia’s largest superannuation fund with more than $260 billion in assets under management, has about $72 billion invested globally and is ramping up headcount in its New York office, which opened last year to bump that investment higher.
Read more: Financial Review
