The $28 billion AustralianSuper has contracted a Philadelphia-based private equity advisor as it seeks to raise its offshore allocation from 0.5 per cent to as much as 2 per cent of the total fund.
Hamilton Lane, whose six global offices include one in Singapore, will assist AustralianSuper with access, due diligence, relationships and knowledge of the world’s best private equity managers, according to chief investment officer Mark Delaney. “;Hamilton Lane is a really high quality organisation, that understands our needs now and how they will evolve, as we become more directly involved in the manager selection process,”; Delaney said. AustralianSuper’s exposure to offshore private equity is currently through Industry Funds Management funds, comprising about 0.5 per cent of total assets. Delaney said this could grow to as much as 2 per cent as further quality managers were identified. Hamilton Lane will be remunerated through a retainer, while such arrangements typically allow for bonuses based on the size and realised gains of the program. Under contract for about two months now, Delaney said Hamilton Lane was close to facilitating its first investment for AustralianSuper.
Despite a prevailing belief to the contrary, super funds that have internalised investment management often terminate their own teams and strategies faster than they would an external manager, according to research house Chant West.
Lachlan MaddockMarch 18, 2025
