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Future Fund promotes private equity head to deputy CIO

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Alicia Gregory, head of private equity at Australia’s Future Fund, has been promoted to deputy CIO with responsibility for private markets.

Gregory, who joined the sovereign wealth fund from MLC in 2019, is one of three newly appointed deputy CIOs. The other two, Wendy Norris and Ben Samild, oversee change and innovation and portfolio construction, respectively.

These structural changes, introduced with a view to “optimising governance, people and technology,” coincide with the departure of CIO Sue Brake for family reasons. Brake joined Future as deputy CIO for portfolio strategy in 2019 and became acting – and then permanent – CIO in 2020.

CEO Raphael Arndt will take on the CIO duties until a replacement is found, according to a statement. He previously served as CIO between 2014 and 2020.

As of March, Future Fund had AUD 201bn (USD 139bn) in assets – rising to AUD 249bn including five other public asset funds it runs. The private equity allocation in the main fund was 16.8% or AUD 33.8bn.

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