QIC’s Global Private Capital division announces $550 million private equity mandate from Rest
The announcement follows lengthy discussions between QIC Limited and Rest around creating a private equity program fit for the superannuation fund’s diversification, return and risk management profile.
Damien Frawley, QIC’s CEO said, “I’m delighted to welcome Rest as a client of QIC’s Global Private Capital investment team. This transaction deepens the relationship between Rest and QIC as Rest has been a longstanding investor in our QIC Shopping Centre Fund.
Rest’s mandate with QIC Global Private Capital reflects ongoing institutional investor demand for partnering with experienced specialist investment teams offering differentiated access to private equity opportunities. We look forward to continuing to work closely with Rest over the long term.”
Brendan Casey, Rest’s General Manager of Investments, said, “QIC’s Global Private Capital platform will provide Rest members with access to a range of international unlisted assets across private equity and venture capital.”
“In QIC, we sought out a like-minded approach to investment in growth assets and to further develop our existing investment management relationship, which has already delivered great results for our members through the QIC Shopping Centre Fund.”
Marcus Simpson, Head of Global Private Capital, QIC, added, “Working with Rest is a significant development for our GPC investment team. As Australia’s superannuation pool continues to grow, we expect to see more interest from funds who, like Rest, are looking toward alternative investments, such as private equity, to deliver superior risk-adjusted returns over the longer term.”
Private equity returns have been strong in recent years and Rest believe that investment models emphasising organic growth and operational improvement can continue to deliver returns consistent with our members expectations.
The transaction was closed on 17 February 2018.
For more information about QIC Global Private Capital, please visit www.qic.com