The headcount of Sunsuper’s private markets investment team will increase to four when Mark Lee joins the $19 billion superannuation fund from WestLB on March 12.
Lee will join Sunsuper’s Sydney-based investment team to analyse property, infrastructure and private debt and equity investments and will report to Michael Weaver, who oversees the fund’s investments in private markets. Weaver confirmed Lee’s appointment.
Sunsuper, which is headquartered in Brisbane, invests about $3 billion in property, infrastructure and private debt and equity assets, including distressed debt, Weaver says.
At 30 June 2011, Sunsuper’s “balanced” investment option held 8.7 per cent of its capital in property assets, 7.6 per cent in private debt and equity, and 4.8 per cent in infrastructure, according to the fund’s 2010-2011 annual report.
But the fund aims to invest 9 per cent of balanced option capital in property assets, 7 per cent in private debt and equity and 5 per cent in infrastructure, according to its annual report.
At WestLB in Sydney, Lee worked in bank lending as manager of credit analysis, Weaver says. His appointment brings Sunsuper’s investment team to 15 people.
In November 2011 the fund hired Jason Huang as a portfolio analyst of fixed income and currency. Kevin Wong also joined as portfolio analyst of strategy and risk.