Sunsuper is to expand on its success in partnering with distressed debt and private equity managers by seeking partnerships with listed equity managers too.
The $30 billion fund has gained large returns from offering quick and often short-term finance to fund managers it has built up long-term relationships with in the private capital space and it has appointed Greg Barnes as listed shares manager, to build similar relationships with equity managers.
Barnes has joined from RHB OSK Asset Management, a Malaysian fund manager based in Singapore, where he was chief executive. Previously he had roles at JP Morgan, AMP Capital, NSW State Super and Imprimatur Capital.
David Hartley, chief investment officer of Sunsuper, said Barnes’ 25 years’ experience would bring a shrewder take on the fund’s dealings with managers.
“We think there is more value to be gained by having someone who has got that deep experience across Australian and international share markets,” he said.
Hartley credits Barnes, who has been in the role for several weeks, with already coming up with ways of what he describes as “extracting 90 per cent of the benefits from investment management with only 10 per cent of the fees”.
In a further strategic move, Sunsuper has appointed Alastair Sloan, as its dynamic asset allocation manager.
Sloan is another experienced investor, with a 27 year track record at NAB, Red Centre Capital, Deutsche Bank, Bankers Trust, Macquarie Bank and most recently at Sydney Cove Capital.
Hartley said the fund had not pushed hard enough on DAA as a source of added value and that Sloan would also bring insights and experience on sectors and countries that would feed into the investment team, particularly the junior members of the team.