AustralianSuper, the country’s largest pension fund, plans to almost double its private equity assets over the next four years as deals pick up following a lull spurred by higher borrowing costs.
The fund, which oversees A$330 billion ($215 billion) of assets, is seeking to boost its private equity allocation to as much as 9% of its portfolio from 5% currently, Chief Investment Officer Mark Delaney said in an interview. That will eventually lift total volumes to around A$35 billion, he said.