New asset manager ready for business
Australia’s newest asset manager, Federation Asset Management, which aims to provide investors with access to asset classes that they have been historically unable to access, has launched its strategy and introduced its investment team.
The company said it would focus on investments in Australia and across the Asia-Pacific region in renewable energy, health and education, real estate, and other private equity investments in areas that aligned with the experience of its senior team.
The new fund would be chaired by the former global chief operating officer (CIO) of Merrill Lynch Asset Management, Greg Bundy, and led by Cameron Brownjohn, formerly the head of Macquarie Capital’s principal investments division in the region.
Following this, Stephen Panizza would lead Federation Renewable Energy while Jason Walter and Neil Brown would lead Federation Real Estate and Private Equity, respectively.
The company also said that its first stage fund raising, which aimed to raise $500 million, already received interest and would be followed by ongoing capital raisings to support Federation’s open-ended strategy.
Additionally, Federation is already in due diligence phase on numerous investment opportunities across all its target asset classes.
"Federation is a new type of fund manager that invests in profitable and sustainable ways. Our expert teams are deploying capital toward clean-energy projects; social infrastructure; and to support the growth of companies that meet today's social and economic needs,” Brownjohn said.
The fund would be raising its initial capital base from high-net worth individuals and remains open to new investors.
AUTHOR
Oksana Patron
Recommended for you
Lonsec and SQM Research have highlighted manager selection as a crucial risk for financial advisers when it comes to private market investments, particularly due to the clear performance dispersion.
Macquarie Asset Management has indicated its desire to commit the fast-growing wealth business in Australia by divesting part of its public investment business to Japanese investment bank Nomura.
Australia’s “sophisticated” financial services industry is a magnet for offshore fund managers, according to a global firm.
The latest Morningstar asset manager survey believes ETF providers are likely to retain the market share they have gained from active managers.
