Former super fund chief to steer new fund manager

Ben Palmer, the former chief executive of GESB, has been appointed managing director and chief executive of a newly formed funds management business.

Perth-based Affinity Capital Group has launched Affinity Funds Management, selecting Palmer to spearhead its ambitions to become Western Australia's leading fund manager.

Palmer recently called time on over a decade at GESB, most of which he spent as chief executive. He also worked in its investment team, overseeing the global portfolio and private equity investments.

Earlier in his career, Palmer worked for Schroders, including as head of portfolio management in the UK private wealth business.

Affinity plans to target opportunities across infrastructure, natural resources, energy transition, food and water security, and Indigenous engagement.

"He brings an exceptional track record, unmatched depth of institutional investment experience, and importantly, a genuine personal commitment to the values that underpin everything we do at Affinity," Affinity Capital Group founder and managing director Adam Santa Maria said of Palmer.

"Ben shares Affinity's vision: to build a funds management business that is deeply Western Australian in character, genuinely excellent in its investment approach, and built on relationships of trust with investors and partners alike.

"We are delighted to welcome Ben to the Affinity Group."

For his part, Palmer said: "Affinity has built something genuinely distinctive - a platform with a compelling investment philosophy, strong deal flow across infrastructure, sovereign capability, natural resources and the energy transition, and with a unique partnership approach to Indigenous engagement. Its reputation in the WA market is second to none."

"I am excited to join a highly credentialed, globally experienced team and help build a Perth-based funds management capability that Western Australians can be proud of for generations to come."

While leading GESB, the fund grew to have more than $46 billion in funds under management and 250,000 members. Palmer also led the One Fund reform, which saw Western Australian legislation amended to allow former public sector workers to continue contributing to GESB.

He has been replaced by GESB chief investment officer Paul Taylor on an interim basis while the WA Treasury hunts a permanent chief executive.