The Future Fund has selected an administration platform for its growing private markets investment program.

The Fund, which currently invests with ten different private equity managers, has selected JPMorgan Private Equity Fund Services to provide an enterprise-wide administration and reporting tool, giving it access to detailed investment information which head of operations and IT, Gordon McKellar, said was fundamental to building and monitoring a well-researched private markets program.

The JPMorgan platform, one of several competing in the burgeoning market for specialist private equity administration, will complement Future Fund’s existing back office relationship with Northern Trust.

“We believe our approach of leveraging the relative strengths of two premium organisations will achieve an optimal best of breed model to ensure we can support our Private Markets investment program as it grows in size and complexity,” McKellar said.

Last week, the Future Fund sold 34 per cent of its Telstra holding for gross proceeds of $2.37 billion, which upon settlement will be integrated into its broader portfolio in line with its stated long-term asset allocation.