The industry-super-owned fund manager's global co-head of listed equities has left after eight years with the business.
Neil Carter is leaving to pursue interest outside of funds management, an IFM spokesperson said.
IFM, which is best known for its unlisted infrastructure and debt teams, also manages about $29.2 billion in listed equities.
The team has been led by Carter and Aidan Puddy as the co-heads. Puddy, formerly of Invesco, will now be appointed as the global head of listed equities.
|Sponsored by Franklin Templeton|
Market Volatility Centre - Tools to Help Stay the Course
"Under the leadership of Neil and Aidan Puddy, IFM has become the second largest equities house in Australia," IFM said in a statement.
"The small cap team [$1 billion in assets at April, 2019] Neil led has outperformed the benchmark by more than 4% per annum since inception in March 2012."
Before joining IFM to start its small caps strategy, Carter worked at Macquarie Investment Management as a division director.
He crossed over with two others from the Macquarie small caps team, Jim Copeland who is now the head of active small caps, and Matt Griffin who left for AMP Capital.
Carter has also worked at ABN AMRO covering media stocks in London.