NZ Super names Whineray as new CEO

“Mr Whineray was the stand out candidate amongst a high quality field of international applicants,” Catherine Savage, chair of the sovereign wealth fund’s manager - known as Guardians - said in a statement. “He has been instrumental in the Guardians’ successes over the last decade and is recognized globally as a leader in institutional investment. The board has the utmost confidence in his leadership ability, intelligence and integrity.”

Whineray (pictured) joined NZ Super in 2008 as general manger of private markets. He has filled the role of CIO since 2014, with responsibility for the fund’s investment activity in listed and unlisted markets, both directly and through investment managers. He has served as acting CEO since March.

The nomination follows the departure of Fiona Mackenzie as NZ Super’s head of external investments and partnerships in October last year. This role has since been filled by Del Hart, who has subsequently reported directly to Whineray as part of the investment committee.

NZ Super uses a reference portfolio instead of the strategic asset allocation model. It sets a base allocation of 80% growth and 20% fixed income. Specific asset classes are considered based on whether they can improve the portfolio by increasing the return or reducing the risk.

As of April, NZ Super had NZ$38.5 billion ($26.3 billion) in capital, of which 5% was deployed in private equity, 5% in timber, 2% in infrastructure, and 3% in other private markets investments. As of July 2017, it had 35 GP relationships, including 22 that wholly or partially involved unlisted assets.

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