Hostplus hunts for new property lead

Spiros Deftereos has departed Hostplus after more than eight years as its head of property.

He has moved over to real estate investment manager Richmond Bridge, where he takes the helm as chief investment officer.

Deftereos had first joined Hostplus in 2012 as an investment manager for property for three years before he stepped up to lead its property portfolios.

Prior to this, he was a property development manager at Lendlease for two years and an associate at NAB for over three years.

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Deftereos’ resume also includes roles at Macquarie Group and PwC.

Last year, the $105 billion fund, which has historically held some of the largest exposures to property, made waves when it decided to discontinue its single-sector property and infrastructure investment options. Instead, it introduced six new “pre-mixed” investment options for its members.

In making the decision to scrap its infrastructure and property options, Hostplus said it had considered factors including “the appropriate management of investment risk, costs, complexity, asset allocation, rebalancing and liquidity, and how these particularly relate to unlisted assets within these standalone sector options”.

Speaking to Super Review, a Hostplus spokesperson confirmed the fund is currently recruiting for the role.

Sharing the new appointment on LinkedIn, Richmond Bridge stated that Deftereos’ two decades of experience would assist in delivering “excellent investment outcomes” for investors.

The firm has negotiated a number of acquisitions in the last year in partnership with $125 billion fund UniSuper under an industrial property investment mandate. This includes a $500 million deal for 20 industrial assets across Sydney and Melbourne and a $105 million deal for a 13-hectare industrial property in Yarraville, Victoria.