Arndt: Future Fund avoids large buyouts, viewing them as fee-eroded levered equities
Raphael Arndt · CIO Greatest Hits: Sovereign Wealth Funds – Raphael Arndt (Australia Future Fund) · Sep 1, 2025 · at 41:05
Raphael Arndt, CIO of Australia's Future Fund, explains the sovereign wealth fund's distinctive private equity strategy to Ted Seides.
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“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 portfolio.”
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