As part of an effort to strengthen its private equity division, Industry Funds Management has hired Steven Lipchin to head both its co-investing and direct investing programs.
Lipchin’s past experience includes leading the private equity division at Wingate Group, a private investment and advisory firm based in Melbourne. He also served as co-founder and managing director of Horizon Equity Partners in South Africa, a company that has a presence in the hedge fund industry.
IFM private equity division head Judith Smith explained that Lipchin’s appointment comes as many private equity investment opportunities arise.
“Private equity continues to enhance returns for our investors’ members,” she said. “Around the world pension funds are increasing their allocation to private equity. Here in Australia, over the past ten years, PE net returns outperform most market indices.
“At the same time we are seeing traditional lenders pulling back from the small and medium enterprise sector, thereby providing good investment opportunities. Australian SME’s currently lack funding and that mean IFM has an opportunity to achieve strong returns, while building jobs for Australians in the process.”
“The feedback from our clients is that they want additional direct exposure to private equity. We have responded and Steve will now lead this next phase.
“I welcome Steve to IFM as our new executive director of private equity. He has excellent experience, across a number of private equity markets.”