Key Takeaways
- • CareSuper, an AUD$65bn Australian pension fund, plans to add as many as 20 investment professionals over the next 12 to 18 months, expanding its existing 60-person team by up to a third, according to Bloomberg.
- • The hiring will cover public and private markets, portfolio construction and active asset allocation across the fund's Sydney and Melbourne offices.
- • CareSuper is reducing its exposure to domestic private credit manager Metrics Credit Partners in favour of global private credit opportunities.
- • The fund is reportedly holding back new commitments to its existing data centre investments, citing valuation concerns and scrutiny of AI-related infrastructure valuations.
Summary
Australian pension fund CareSuper is planning to increase its investment team by up to a third as it expands internal asset management capabilities and adjusts its private markets exposure amid higher borrowing costs and market volatility, according to a report by Bloomberg. The AUD$65bn fund expects to recruit as many as 20 investment professionals over the next 12 to 18 months, adding to its existing 60-person team. The appointments will span public and private markets, portfolio construction and active asset allocation across its Sydney and Melbourne offices.
On the private credit side, CareSuper is reducing its exposure to domestic private credit manager Metrics Credit Partners in favour of global private credit opportunities. The fund currently allocates approximately 8% of its balanced portfolio to credit and 12% to infrastructure. It intends to retain a hybrid investment model that combines internal management with external mandates.
The pension fund is also reportedly holding back new commitments to existing data centre investments amid concerns over valuations and the outlook for the sector. CareSuper has exposure through specialist digital infrastructure manager DigitalBridge and believes the risks associated with further investment have increased as scrutiny of AI-related infrastructure valuations intensifies.
On the private credit side, CareSuper is reducing its exposure to domestic private credit manager Metrics Credit Partners in favour of global private credit opportunities. The fund currently allocates approximately 8% of its balanced portfolio to credit and 12% to infrastructure. It intends to retain a hybrid investment model that combines internal management with external mandates.
The pension fund is also reportedly holding back new commitments to existing data centre investments amid concerns over valuations and the outlook for the sector. CareSuper has exposure through specialist digital infrastructure manager DigitalBridge and believes the risks associated with further investment have increased as scrutiny of AI-related infrastructure valuations intensifies.
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