POWERED BY MOMENTUM MEDIA
(December-2004) Unisuper looks abroad
UniSupeR is actively considering expanding its alternative investment allocation with move into international private equity.
The fund has appointed international private equity specialist, Altius Associates to prepare a report assessing the merits of international private equity to be completed by early next year.
UniSuper chief executive, Ann Byrne said that the fund was committed to maintaining its exposure to Australian private equity and that the expansion into international private equity needed to be considered as a natural evolutionary step.
Byrne said the review being conducted by Altius would include all private equity markets outside of Australia and all private equity sub-asset classes.
Commenting on the decision to commission the review, UniSuper’s chief investment officer, David St John said Altius would work with UniSuper’s investment department to comprehensively review all facets of developing and implementing an international private equity program.
He said this would include detailed consideration of market and manger research, construction of a model portfolio and tax and legal matters.
St John said UniSuper’s current exposure to the private equity sector, including domestic private equity, a small investment in international private equity fund of funds, and listed microcap stocks, totals around $330 million across 25 managers and represents about two per cent of the Fund’s total assets.
AUTHOR
Mike Taylor
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