Industry fund AustSafe Super has initiated a process to find a new administrator.
The fund, which boasts $1.6 billion in funds and more than 140,000 members, has retained Deloitte to undertake the tender process.
AustSafe has previously utilised Superpartners as its administrator.
Superpartners was sold to the Link Group, the parent company of Australian Administration Services, with the transaction being completed in mid-December.
A major super fund has defended its use of private markets in a submission to ASIC, asserting that appropriate governance and information-sharing practices are present in both public and private markets.
A member body representing some prominent wealth managers is concerned super funds’ dominance is sidelining small companies in capital markets.
Earlier this month, several Australian superannuation funds fell victim to credential stuffing attacks, which saw a small number of members lose more than $500,000.
Small- to medium-sized funds have become collateral damage in an "imperfect" model for super industry levies, a financial institution has said.