Australia's Future Fund

“We've done probably 20 or 30 co-investments in private equity over the years, so it's not an enormous number, but it's enough to have a view. We also co-invest in the venture portfolio, and we've done about 40 there as well, and so I would say that, broadly sp…”

“Our portfolio has no large buyout at all, because we think that large buyout is really just levered equities, typically. And if there's skill added on top, and there might be, then most of that goes away in fees. So we don't think it adds a lot for the portfol…”

“For the larger managers, we could write a three or four hundred million dollar check to a fund, and ideally, that's what we would do, because we've got only seven or eight people in our profit equity team, and they've got a lot of managers to get across”

“Well, there's a lot of brand names we don't have, and it varies why, but one of the most significant reasons is because they just use leverage we found to juice up their returns, and we don't think that's attractive.”

“We don't try to re-underwrite the deal. We've already underwritten this manager, we've already backed them, and we trust them.”