AustralianSuper is stepping up its push into private equity, with Asia set to become a central pillar of the country’s largest pension fund’s private markets strategy, according to a report by Bloomberg.

The A$410bn ($287bn) investor currently has about 4% of its portfolio allocated to private equity. Chief executive Paul Schroder said that share could rise toward 10% as the fund expands its private markets exposure.

Private equity formed part of A$85bn of unlisted assets held by AustralianSuper as of June 30. The fund is now looking to deploy capital across Asia, focusing on co-investments and co-underwriting alongside established partners.

“We are diversifying and thinking about Asia, especially through the PE lens,” Schroder said in an interview with Bloomberg Television.

The move follows recent commitments to external private equity managers in the US and Europe. AustralianSuper is prioritising opportunities in more developed Asian economies where it already has relationships.

The strategy comes after a period of relative underperformance. The fund’s default option returned 9.5% in the year to June 2025, trailing the industry average of 10.5%. Schroder said changing market dynamics could create more opportunities for active investors.

If you think we missed any important news, please do not hesitate to contact us at [email protected].

Can`t stop reading? Read more.