Future Fund
Sovereigns and VC: An eye on the future
Australia's Future Fund appears to have overcome the philosophical and structural challenges facing face large-ticket LPs that want exposure to early-stage innovation
Australia's Future Fund emphasizes VC, growth equity
Private equity – and in particular venture capital and growth equity – is “more important now than it has ever been” to Future Fund’s overall portfolio, the Australian sovereign wealth fund said in its annual report.
PE-led consortium pays $7.3b for Port of Melbourne lease
A consortium including QIC, Future Fund and Global Infrastructure Partners (GIP) has paid A$9.7 billion ($7.3 billion) for a 50-year lease at the Port of Melbourne, Australia’s largest container and cargo facility.
PE exposure vital in weak global economy - Future Fund
Exposure to private equity and venture capital – where it is driven by true value creation rather than financial leverage or strong economic growth – has never been more important, according to Raphael Arndt, CIO of Australia’s Future Fund.
Australia's Future Fund leads round for US-based MapR
Australia’s Future Fund has led a $50 million round of funding for US-based big data services company MapR Technologies.
QIC, Future Fund support AGL's Australia renewables fund
The QIC Global Infrastructure Fund and Future Fund have committed A$800 million ($598 million) to the Powering Australian Renewables Fund (PARF), a vehicle launched by domestic electricity provider AGL Energy to bankroll large-scale renewable energy projects.
Australian LPs consider diversified approaches to PE - AVCJ Forum
Australian LPs are increasingly interested in non-traditional structures in private equity as they find that fund investment programs no longer offer the flexibility, fee burden and scale of deployment to meet their needs.
Australia's Future Fund makes secondary sale to CPPIB - report
Australia’s Future Fund exited A$1 billion ($712 million) worth of fund positions from its private equity portfolio last year, with Canada Pension Plan Investment Board (CPPIB) picking up the assets.
Australia's Future Fund trims PE exposure
Australia’s Future Fund has lowered its private equity allocation slightly and boosted its cash holdings, reflecting concerns over increased risk due to changes in lending and public policy across markets.
The debate: Are LPs even LPs any more?
A group of top-level LPs of varying sizes came together at this year’s AVCJ Forum to discuss what they want from co-investment, how they prefer to participate, and ensuring alignment of interest with GPs
India PE primed for a pay-off - AVCJ Forum
While India's private equity industry has been slow to deliver rewards to LPs, the groundwork has been laid for investors to see returns in the near future, industry participants told the AVCJ India Forum.
Co-investments strengthen GP-LP bond - AVCJ Forum
LPs that pursue co-investment opportunities alongside their portfolio GPs can build a stronger relationship with the managers, LPs told the AVCJ Forum.
Australia's Future Fund contiues to ramp up PE exposure
Australia’s Future Fund continues to boost its exposure to private equity, with 10.8% of its assets – or A$12.6 billion ($8.8 billion) – deployed in the asset class as of June 2015. This follows an increase from 7.7% to 9.5% over the course of 2014.
Australia's Future Fund leads $40m round for India solar firm
Australia's Future Fund has led a $40 million investment in Indian Solar power company Applied Solar Technologies (AST). Existing investors Bessemer Venture Partners (BVP), Capricorn Investment Group and the International Finance Corp. (IFC) also participated.
Australia mid-market: Squeezed middle
Several Australian superannuation funds are eschewing commitments to smaller domestic GPs because they have to deploy a larger quantum of capital. If more follow suit, what does it mean for the middle market?
Australia's Future Fund ups PE allocation to 9.5%
Australia’s Future Fund increased its private equity allocation from 7.7% to 9.5% over the course of 2014 as total assets under management reached A$109 billion ($85 billion). The return for the 12 months ended December was 13.2%.
Australia's Future Fund promotes infrastructure head to CIO
Australia’s Future Fund has appointed Raphael Arndt as chief investment officer. He was previously head of infrastructure and timberlands with the sovereign wealth fund.
Australian LPs still struggling with co-investment - AVCJ Forum
Australian LPs are increasingly keen on direct investment for the most part alongside portfolio GPs but not all groups are able to build and retain the resources required to participate effectively.
Australia’s Future Fund hikes private equity allocation
Australia’s Future Fund increased its private equity allocation from 6.3% to 7.2% over the 12 months to September 2013 as overall assets grew to A$91.7 billion ($88.5 billion).
Australia's ACSI names Future Fund executive as new CEO
The Australian council of Superannuation Investors (ACSI) has appointed Gordon Hagart, head of environmental, social and governance (ESG) risk management at Future Fund, as its new CEO. Hagart will take over from Ann Byrne who will retire from the A$100...
Pay to play: Australia's fee debate
The debate over private equity fees in Australia is a hotly contested domestic issue, but its long-term implications say much about how the asset class might evolve at a global level
LPs wary about raising Asia PE allocations above 10% - AVCJ Forum
Institutional investors are generally happy to deploy 10% of their private equity allocation in Asia, but they say it is difficult to justify increasing this portion until risk factors ease and local managers build up stable teams and more substantive...
ASX chairman to lead Australia’s Future Fund
David Gonski will relinquish his role as chairman of the Australian Stock Exchange (ASX) to head up Future Fund, the country’s A$90 billion ($95 billion) sovereign wealth vehicle. He replaces David Murray, former CEO of Commonwealth Bank of Australia.
Western Australia moves forward on sovereign fund plans
The Western Australia government appears to have accelerated plans to set up a sovereign wealth fund to accrue a portion of the profits being generated by the region’s natural resources. Premier Colin Barnett mooted the prospect of a future fund that...