Care Super appoints private equity manager

Fund eyes Europe

Christine St Anne

Thu 21 May 2009

Industry superannuation fund Care Super has hired Partners Group to its stable of four private equity managers.

Partners Group will manage a $39 million mandate that will invest in European private equity.

The Switzerland-based firm manages about $22 billion in private equity assets around the world.

"We were looking to expand into the European sector as a way to achieve greater diversity for our portfolio," Care Super general manager of investments Greg Nolan said.

Care Super has $3.3 billion in funds under management. The fund's private equity portfolio represents about 2 per cent of assets.

Its existing private equity managers are LGT Capital Partners, Industry Funds Management, AMP Capital Partners and Wilshire Associates.