Australia's Future Fund hires TPG executive

The Australian sovereign wealth fund is adding to its bench strength in the asset class following the departure of four senior executives. Earlier this year, Alicia Gregory moved over from MLC, operator of the country’s largest retail superannuation fund, to become head of private equity.

Khotkar joined TPG as an associate in 2007, having previously worked at Goldman Sachs. He rose to the level of principal and participated in activities such as the refinancing and ultimate exit from Alinta Energy, the roll-up of commercial property services businesses Cushman & Wakefield, DTZ and Cassidy Turley, and the acquisitions of pet care company Greencross and biotech player Novotech.

The Australian Financial Review first reported Khotkar's appointment. This was subsequently confirmed to AVCJ by Future Fund.

Future Fund had A$147 billion ($103 billion) in total assets as of December 2018, including A$23.4 billion in private equity. The percentage allocation to the asset class increased from 12.1% to 15.8% over the previous 12 months. The organization credits carefully cultivated private markets exposure with helping it achieve an annualized return of 9.7% over the last 10 years, beating the 6.6% benchmark.

Three of the departing executives, including former PE head Steve Byrom, launched an advisory firm that targets global institutional investors looking to build exposure to the asset class. The fourth, Cameron Sinclair, moved to Funds SA as private equity and infrastructure head.

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• Topics
• Australasia
• People
• LPs
• Australia
• Future Fund
• TPG Capital
• Appointments