UniSuper paring private equity exposure
The $37 billion pension fund for Australia’s higher-education sector favours property and infrastructure over PE. It is also working to upgrade the overall quality of its portfolio.
It’s been a major trend in recent years for institutional investors in Asia Pacific to ramp up their exposure to alternative assets. So it comes as quite a surprise when a sizeable and sophisticated pension fund says it has been reducing its private equity allocation.
But that is what Australia’s UniSuper is doing, chief investment officer John Pearce told AsianInvestor.
“We are not really fans of alternative assets,” said Pearce, who took up the CIO role in 2008. “For example, …
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