Australia’s Future Fund hiring director for infra and timberland team

Australia’s sovereign wealth fund, the Future Fund, is hiring a new director of infrastructure and timberland to expand the team.

The fund is operated independently from the government and its infrastructure and timberland team is responsible for an A$8 billion ($6 billion; €5 billion) global portfolio, making it one of the largest infrastructure investors in the world.

The recruitment process follows the departure of Nadine Lennie to become Chief Financial Officer at Melbourne Airport and the promotion of Wendy Norris to be the Future Fund’s Head of Infrastructure and Timberland, Will Hetherton, Future Fund’s spokesperson told Agri Investor.

Lennie had been director of infrastructure and timberland, and had been with the fund for seven years.

Wendy Norris was appointed head of infrastructure and timberland in March. Norris had been a director in the team since 2010. Prior to joining the Future Fund, she was an investment director at Hastings Funds Management and previously held project finance roles with ABN AMRO.

Campbell Group, UBS Global Asset Management and AMP Capital Investors are among the  managers for the fund’s infrastructure and timberland portfolio.

As of 31 March, the fund has A$117 billion under management. Its alternative assets portfolio makes up 13.7 percent of which 6.8 percent is infrastructure and timberland.

The Future Fund has received contributions from a combination of budget surpluses, proceeds from the sale of the government’s holding of communications company Telstra and the transfer of remaining Telstra shares.