Hyperion Asset Management has been awarded a $30 million mandate from CoINVEST bringing its total funds under management to well over $1.3 billion.

Ian Macoun has also joined the group’s board as chairman, following the resignation of Steve Wilson. Wilson’s resignation from the Hyperion board follows the recent formation of Pinnacle Investment Group which is a majority shareholder of Hyperion. Wilson represented Hyperion’s former major shareholder, Wilson HTM, which transferred its holdings in Hyperion to Pinnacle. Macoun is the chief executive officer of Pinnacle, which is also a majority shareholder of Don Hamson’s new boutique Plato. “This is a substantial statement by Wilson HTM. Steve Wilson has been great for us. We’re now at a stage where everybody is looking for Hyperion to stand alone,ETim Samway, Hyperion institutional business director, said. CoINVEST is the portable long service leave scheme for the construction industry in Victoria and has funds under management of just over $450 million. Charles Keifel also resigned from Hyperion’s board in August, citing potential conflicts of interest.