Australia’s largest private pension fund, AustralianSuper, has discreetly established an office in London following its acquisition of a controlling stake in a 67-acre property development near King’s Cross. With assets under management equivalent to £57 billion, AustralianSuper has played a significant role in contributing to Australia’s well-regarded pension system.
The fund has stationed two investment professionals in London, specializing in real estate and infrastructure. Trish Curry, the senior country manager, oversees the London office’s operations.
Although the office has been in operation for a short period, it represents AustralianSuper’s sole presence in Europe. The establishment of the London office may signify potential investment opportunities in the UK for the fund, which manages the pensions of one in 10 Australian citizens.
AustralianSuper’s involvement in the King’s Cross development increased from a 25% stake to 67.5% in January 2016, after purchasing a share from the UK Government for £370 million. Jack McGougan, the Head of Property at AustralianSuper, stated that the expansion into global property aligns with the fund’s strategy of diversifying its portfolio. This move allows AustralianSuper to participate in a range of property and infrastructure projects that require international investment in the UK.
