The Australian Government Employees Superannuation Trust (AGEST) has invested US$30 million ($36 million) with private equity firm Northgate Capital.
The industry superannuation fund said it planned to boost its exposure to private equity to 6 per cent of its portfolio.
"Our investment in private equity represents 1 per cent of our portfolio. We are aiming to increase this allocation to 6 per cent over the next few years," AGEST chief executive Michael Seton said.
The fund will allocate 3 per cent each of its portfolio to Australian and international private equity transactions.
"We are in no hurry to meet our private equity target. We will look at good opportunities as they come along," Seton said.
The fund has also committed $40 million to Lazard's Global Listed Infrastructure Fund and US$40 million ($47 million) to Boston-based real estate investment firm AEW Capital.
This mandate will invest in unlisted international property.
"We have wanted to increase our exposure to global listed property for some time," Seton said.
