AustralianSuper has hired Mark Hargraves from French investment firm AXA Investment Management as head of international and private equity.
In his new role, Hargraves is 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.
Hargraves will also play a “core role” in the fund’s investments and London office leadership team, AustralianSuper says in a statement on August 30.
The superannuation fund notes it will continue to build its [international] equities and private equity capabilities to manage significant anticipated growth.
It forecasts its global equities portfolio to grow from the current A$69 billion (US$44.75 billion) to around A$255 billion by 2030, while the private equity portfolio will grow from A$14 billion to around A$55 billion.
“Mark’s appointment is an important leadership role with the fund, bringing together the management, research and strategy for international equities and private equity investments,” AustralianSuper Chief Investment Officer Mark Delaney says in the statement.
Hargraves was previously head of global equity at AXA Investment Management.
Melbourne-based AustralianSuper manages more than A$300 billion in members’ retirement savings on behalf of over 3.2 million members.
