Future Fund | Senior Leadership Team

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Senior Leadership Team

The Future Fund Management Agency is responsible for providing advice and recommendations to the Board of Guardians.

The team is drawn from across investment, finance, legal, operational and a range of other industries, bringing the skills and the private sector experience necessary to manage the day-to-day operations of the business.

The leadership team, led by the Chief Executive Officer, is accountable for the operations of the Future Fund Management Agency.

Dr Raphael Arndt

Chief Executive Officer

Dr Raphael Arndt commenced as the Chief Executive Officer of the Future Fund on 1 July 2020. He served as the Chief Investment Officer of the Future Fund from 2014 to 2020 and was previously the Future Fund’s Head of Infrastructure and Timberland, where he was responsible for establishing both the Infrastructure and Timberland investment programs. Dr Arndt is also a Board Member of the Melbourne Lord Mayor’s Charitable Foundation, Australia’s largest community foundation. Dr Arndt started his career as an engineer working with Ove Arup & Partners in Melbourne and London. He holds Engineering and Commerce degrees and a PhD from the University of Melbourne, which focused on risk allocation in Public Private Partnerships.

Ms Alicia Gregory

Deputy Chief Investment Officer, Private Markets

Ms Gregory joined the Future Fund in 2019. She is responsible for managing the strategy for the Private Markets portfolio which includes Private Equity, Property, Credit and, Infrastructure and Timberland. Prior to this she was Future Fund's Head of Private Equity and previously worked for MLC for 17 years, most recently as Head of Private Equity.

Ms Gregory has over 23 years' experience in the financial services sector and holds a Bachelor of Business from University of Technology, Sydney, is a CFA charter holder and has completed the General Management Programme at INSEAD.

Mr Will Hetherton

Head of Corporate Affairs

Mr Hetherton joined the Future Fund in 2007 as Head of Public Affairs. He was appointed to lead an expanded corporate affairs function in May 2021. Before joining the Future Fund, Mr Hetherton spent five years in the corporate affairs team at National Australia Bank including roles in Australia and the United Kingdom. Previously he worked in corporate affairs consulting. He is a member of the Advisory Committee of the International Forum of Sovereign Wealth Funds. He holds a degree in Philosophy, Politics and Economics from New College, Oxford, and a post-graduate certificate in Applied Finance from Kaplan Professional.

Mr Gordon McKellar

Chief Operating Officer

Mr McKellar joined the Future Fund in 2007 to establish the operational capabilities required to enable the investment program. He was appointed Chief Operating Officer in 2012. In March 2021 his role was expanded to oversee the Investment and Business Operations group. Mr McKellar has over 30 years of experience in funds management and asset servicing. He was previously Head of Operations at BNP Paribas in Sydney and prior to this held several operational and client management roles with Deutsche Bank and Bankers Trust in New York, Sydney, and the United Kingdom.

Mr Cameron Price

General Counsel and Chief Risk Officer

Mr Price joined the Future Fund in March 2014 as General Counsel. He took up the additional position of Chief Risk Officer in March 2018. Previously, he was a Partner and Board member at law firm Allens Linklaters, where he had 25 years of experience in corporate law, with particular expertise in mergers and acquisitions, private equity, equity capital markets and corporate governance. Mr Price holds a Bachelor of Economics and a Bachelor of Laws (Hons) from Monash University.

Ms Kimberley Reid

Chief People, Culture and Inclusion Officer

Ms Reid joined the Future Fund in May 2021 as the Interim Chief People and Culture Officer and was appointed permanently to the role in September 2021. Prior to this role, she was Executive General Manager, Organisation Effectiveness and Strategic Leadership at the Commercial Bank of Qatar and Chair of the Board Audit and Compliance Committee, Alternatif Bank, Turkey. She started her career as a lawyer at Allens Arthur Robinson and worked at the Federal Court of Australia and the Commonwealth Human Rights Commission. Ms Reid holds a Bachelor of Arts (Hons) and a Bachelor of Laws (Hons) from the University of Melbourne and a Master of Public Administration from the Harvard Kennedy School in Cambridge, Massachusetts.

Mr Ben Samild

Chief Investment Officer

Mr Samild joined the Future Fund in 2013 and was appointed to Chief Investment Officer in August 2023. In his former role (June 2022 – July 2023) as Deputy Chief Investment Officer, Portfolio Strategy, Ben led work on portfolio construction and dynamic asset allocation, the integration of overall portfolio insights with sector specific opportunities, and the development of views on emerging markets. Prior to this, Ben was the Future Fund’s Head of Alternatives with responsibility for the investment of over $30 billion of capital across a range of hedge fund and other skill based absolute return strategies. Before joining the Future Fund he had a ten-year career in the hedge fund industry, and four years as Head of Investment Strategy at Industry Super Fund LUCRF Super. He completed his undergraduate degree at the University of Melbourne majoring in behavioural finance, psychology and history. He also worked as a research fellow while completing a Masters in Applied Finance.