Future Fund restructures, property head departs

Future Fund restructures, property head departs

The Future Fund has announced a restructure of its investment team prompted by the departure of head of property Barry Brakey.


Barry Brakey will leave the Future Fund after leading the organisation's $8 billion international property portfolio for 10 years.

In response to the departure, the Future Fund has created five new positions to be filled by existing investment staff.

Stewart Tillyard will become head of unlisted property, James Fraser-Smith will become head of unlisted infrastructure and timberlands, Sarah Carne will become head of listed tangible assets, Craig Dandurand will become head of debt, and Ben Samild will become head of alternatives.

The restructure follows the departure of chief investment strategist Stephen Gilmore in March 2018, which led to an expanded role for chief investment officer (CIO) Raphael Arndt and the creation of two new deputy CIO roles.

Commenting on Mr Brakey's departure, Future Fund chief executive David Neal said: "Barry has been instrumental in the creation of the property portfolio and its significant contribution to the $80 billion of investment returns produced since inception."

"He has recruited and developed a high performing team and has brought his experience and leadership to bear across the broader investment team, including having served as acting head of infrastructure and timberlands.

"His contribution to the whole organisation's culture and success has been enormous and I wish him well for his future success," Mr Neal said.

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