AustralianSuper has combined its infrastructure and property teams into a new real assets team to support the superannuation fund’s plan to double the size of its mid-risk portfolio to more than A$150 billion (US$94.92 billion) by 2030.
The merged team is overseen by Nik Kemp, who was previously head of infrastructure and is now global real assets head, reporting to Jason Peasley, head of mid-risk, Australia’s largest super fund says in a statement on October 13.
AustralianSuper aims to more than double its assets under management, including the mid-risk portfolio, from A$300 billion currently to over A$700 billion by 2030.
The new team under Kemp’s guidance “will support our drive to double our mid-risk portfolio by 2030 and help deliver on our purpose of helping members to achieve their best financial position in retirement”, Peasley says in the statement.
According to Kemp, merging the infrastructure and property teams will allow a more research and sector-led approach to investing that is aligned to the fund’s broader ‘one portfolio’ approach.
“By bringing the expertise and knowledge of the two asset classes together, we can maximise the best of both to support global deal origination and continue to drive value creation in ownership for fund members,” he says.
Australia has 2,613 sector, industry and corporate super funds, with combined assets of A$3.54 trillion as of June 2023, according to figures from the Association of Superannuation Funds of Australia.
