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
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.