We use external investment managers to execute investment strategies on our behalf.

We employ a relatively small number of external managers. These managers have a detailed understanding of our investment strategy and seek the best investment opportunities around the globe to achieve the mandate for each of our funds.

Our investment manager selection process is designed to deliver a high quality initial selection decision, and to ensure that the portfolio construction does not lead to excessive concentration of manager risk in any one investment manager. We also undertake regular reviews of our managers.

A list of our investment managers as at 31 December 2022 below.

ASSET CLASS

MANAGER

Equities
Australian equities
  • Macquarie Investment Management
  • UBS Securities Australia
Developed market equities
  • Insight Investment Management
  • Legal & General Investment Management Limited
  • State Street Global Advisors
  • UBS Securities Australia
Emerging market equities
  • Insight Investment Management
  • Robeco Institutional Asset Management
  • State Street Global Advisors
  • UBS Securities Australia

Private equity
Buy out
  • Advent International Corporation
  • American Industrial Partners
  • Apax Partners
  • Archer Capital
  • Bain Capital
  • Charterhouse Capital Partners
  • GI Partners
  • Hellman & Friedman
  • Motive Partners
  • Quadrant Private Equity
  • RCP Advisors
  • Seidler Equity Partners
  • Siris Capital
  • The Growth Fund
  • Trustar Capital (previously Citic Capital)
  • Vitruvian Investment Partners
Venture and growth
  • Adams Street Partners
  • Bessemer Venture Partners
  • Blackbird Ventures
  • CDH Investments
  • Clocktower Technology Ventures
  • Columbia Capital
  • FountainVest Partners
  • Hillhouse Capital
  • Horsley Bridge Partners
  • Lightspeed Venture Partners
  • New Enterprise Associates
  • Playground Global
  • Quilvest
  • Sequoia Capital
  • Stepstone Group (previously Greenspring Associates)
  • Xiang He Capital
Special opportunities
  • Adams Street Partners
  • Oaktree Capital Management
  • TowerBrook Capital Partners

Property
Unlisted
  • Altarea Cogedim
  • Berkshire Property Advisors
  • Blackstone Real Estate
  • Brookfield Asset Management
  • Columbia Pacific Advisors
  • Garrison Investment Group LP
  • Greystar Equity Partners
  • Harbert Management Corporation
  • Hillwood Investment Properties
  • ICAMAP Advisory
  • Lendlease Investment Management
  • Logistics Property Company
  • Macquarie Asset Management Real Estate
  • Morgan Stanley Real Estate Investing
  • PEET Limited
  • Starlight Investments
  • Vicinity Centres
Listed
  • Legal & General Investment Management Limited
  • Massachusetts Financial Services
  • State Street Global Advisors

Infrastructure & Timberland
Unlisted
  • AMP Capital Investors
  • Campbell Global
  • Corsair Infrastructure Management
  • Global Infrastructure Partners
  • HRL Morrison & Co
  • Lotus Infrastructure Partners
  • Morgan Stanley Infrastructure Partners
  • Oaktree Capital Management
  • QIC Global Infrastructure
Listed
  • DWS
  • Legal & General Investment Management Limited
  • State Street Global Advisors

Credit
High grade debt
  • First Sentier Investors
  • Goldman Sachs Asset Management
  • M&G Investment Management Limited
  • Macquarie Investment Management
  • PIMCO Australia
High yield debt
  • Ares Management
  • Bain Capital Credit
  • BlackRock Alternative Advisors
  • Oak Hill Advisors
  • Oaktree Capital Management
 
Private debt
  • Ares Management
  • Bain Capital Credit
  • BlackRock Alternative Advisors
  • Hayfin Asset Management
  • PAG Holdings Limited
  • Westbourne Credit Management Limited
 Emerging markets debt
  • BlackRock Investment Management
  • Lazard Asset Management
  • Oaktree Capital Management
Distressed and event driven
  • Bain Capital Credit
  • BlackRock Alternative Advisors
  • Centerbridge Partners L.P
  • Oak Hill Advisors
  • Oaktree Capital Management

Alternatives
Low Beta - Relative Value
  • Atom Investors L.P.
  • BlackRock Alternative Advisors
  • Blackstone Alternative Asset Management
  • Citadel Advisors
  • Dymon Asia Capital
  • MAN AHL Partners LLP
  • MAN FRM
  • Schonfeld Strategic Advisors
  • Squarepoint Capital
  • Wellington Investment Management
 Low beta - Directional
  • Athanor Capital L.P.
  • Bridgewater Associates, Inc
  • Citadel Advisors
  • Clocktower Group L.P.
  • Wellington Investment Management
Insurance-linked Securities
  • Blackstone Alternative Asset Management
  • Elementum Advisors
  • Hiscox Re Insurance Linked Strategies Ltd
Diversifiying
  • Ionic Capital Management
  • MAN AHL Partners Ltd
High Beta
  • GMO Australia

 Overlays
Overlay strategies
  • Ashmore Investment Management Limited
  • Insight Investment Management (Global)
  • Legal & General Investment Management Limited
  • Maquarie Investment Management
  • PIMCO Australia
  • State Street Global Advisors Limited
  • UBS Securities Australia Limited

Cash
 Cash
  • First Sentier Investors
  • Macquarie Investment Management
  • PIMCO Australia