QIC’s Global Private Capital division has today announced a $550 million private equity mandate from Rest, one of Australia’s largest superannuation funds by membership, with approximately two million members and $50 billion in funds under management.
Today’s announcement follows lengthy discussions between QIC and Rest on 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 the 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 we believe that investment models emphasising organic growth and operational improvement can continue to deliver returns consistent with client expectations.”
The transaction was closed on 17 February 2018.
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QIC is a global diversified alternative investment firm offering infrastructure, real estate, private capital, liquid strategies and multi-asset investments. It is one of the largest institutional investment managers in Australia, with $85.0 billion in funds under management. QIC has over 800 employees and serves more than 110 clients. Headquartered in Brisbane, QIC also has offices in Sydney, Melbourne, New York, Los Angeles, Cleveland, Fort Lauderdale, San Francisco, London and Copenhagen.
About QIC Global Private Capital:
QIC Global Private Capital, with $5.6 billion in assets under management, are operationally-focused investors targeting investment themes and strategies that provide capital to build successful companies around the world. This ranges from investing in start-ups in the USA and China to ownership of one of the largest beef producers in Australia.
For more information, please visit: www.qic.com
Rest is one of Australia’s largest super funds by membership with $50 billion in funds under management as at 31 December 2017 and around 2 million members. Rest was awarded Best Fund Innovation 2017 at the Chant West 2017 Super Funds Awards and also recently won the Rainmaker SelectingSuper Innovation Award 2017 for Millennial Superannuation*.
*Ratings or awards are only one factor that you should consider when deciding how to invest your super. For more information about our awards, visit rest.com.au/ourawards. For further information about the methodology used by Chant West, see www.chantwest.com.au
This information doesn’t take into account your circumstances. So, before acting on it, you should consider whether it is appropriate for you. Before making a decision about your super, please read the relevant Product Disclosure Statement (PDS) available at www.rest.com.au or call 1300 300 778. This information is provided by the issuer, Retail Employees Superannuation Pty Limited, ABN 39 001 987 739 as trustee of Rest (Retail Employees Superannuation Trust ABN 62 653 671 394).
QIC Limited ACN 130 539 123 (“QIC”) is a wholesale funds manager and its products and services are not directly available to, and this document may not be provided to any, retail clients. QIC is a company government owned corporation constituted under the Queensland Investment Corporation Act 1991 (Qld). QIC is regulated by State Government legislation pertaining to government owned corporations in addition to the Corporations Act 2001 (Cth) (“Corporations Act”). QIC does not hold an Australian financial services (“AFS”) licence and certain provisions (including the financial product disclosure provisions) of the Corporations Act do not apply to QIC. QIC Private Capital Pty Ltd (“QPC”), a wholly owned subsidiary of QIC, has been issued with an AFS licence and other wholly owned subsidiaries of QIC are authorised representatives of QPC. QIC’s subsidiaries are required to comply with the Corporations Act. QIC also has wholly owned subsidiaries authorised, registered or licensed by the United Kingdom Financial Conduct Authority (“FCA”), the United States Securities and Exchange Commission (“SEC”) and the Korean Financial Services Commission.
For more information about QIC, our approach, clients and regulatory framework, please refer to our website www.qic.com or contact us directly.
The statements and any opinions in this document (the “Information”) are for commentary purposes only and do not take into account any investor’s personal, financial or tax objectives, situation or needs. The Information is not intended to constitute personal legal or investment advice and it does not constitute, and should not be construed as, an offer to sell or solicitation of an offer to buy, securities or any other investment, investment management or advisory services. Past performance is not a reliable indicator of future performance.
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