AVCAL announces new chairman
The Australian Private Equity & Venture Capital Association (AVCAL) has appointed David Brown as chairman, effective after the association's council meeting on Thursday.
Brown, an experienced funds management and private equity professional, will replace Andrew Rothery, who has held the chairmanship for the past three years.
Katherine Woodthorpe, CEO of AVCAL, said: "David is passionate about private equity as an asset class that delivers strong and reliable returns and is already contributing his strategic insights and knowledge to advocate on behalf of the industry."
Brown stressed the role that private equity plays in supporting Australia's economy, noting that it has emerged from the global financial crisis as one of the best performing asset classes, regularly beating public equities.
"Our companies are at the forefront of productivity growth and the benefits flow directly back to Australians in the form of investment returns via their Super funds," he said.
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