AustralianSuper has named Mark Hargraves as its head of international and private equity as it continues to enhance its offshore investment capabilities and bolster its European presence.
By 2030, it is forecast to have around $700 billion of members’ funds under management and will deploy almost 70 per cent of its growing inflows into global markets.
It currently has some $40 billion invested in the UK and Europe.
In this role, Hargraves will be responsible for leading the fund’s international equities and private equity teams, building internal capabilities, hiring new talent, and leading the processes underpinning the growth and development of those portfolios.
The fund’s global equities portfolio is expected to grow from current figures of almost $70 billion to around $255 billion while the private equity portfolio is expected to grow from $14 billion to around $55 billion.
“Mark’s appointment is an important leadership role within the fund, bringing together the management, research and strategy for international equities and private equity investments,” said Mark Delaney, chief investment officer.
“His investment experience within complex multi-market organisational structures will be invaluable as we build our own capabilities alongside outside investment mandates.”
Hargraves said he was delighted to join the $300 billion fund at a time when it is undergoing significant growth.
“The past few years have highlighted the importance of agile, integrated investment strategies able to manage short-term macro-economic and geopolitical volatility and the longer-term sustainability challenges created by climate change. I look forward to playing my part in the Fund’s growth and the unique opportunities that process will create,” he stated.
He joins AustralianSuper from AXA Investment Management, where he was head of AXA IM equity for the last two years and was responsible for over $110 billion in assets. He had been with the firm since 2000.
He will be based in the fund’s London office, which recently welcomed a number of other senior hires including John Normand as head of investment strategy; Deborah Gilshan as head of ESG and stewardship, Europe; and William Manfield as head of group risk, international.
AustralianSuper’s deputy chief investment officer, Damian Moloney, has described the London office as an “important investment engine” for the super fund.
“We’re building a high-calibre and experienced team in London to ensure the fund is strategically positioned in a market that will create many opportunities to generate excellent long-term returns for members,” Moloney said.
