New role for former State Super investment chief

A $70 billion industry fund has hired State Super's former chief investment officer who left the fund in December last year.

Sunsuper has appointed Richard Hedley as a portfolio manager for private markets.

He started in the role earlier this month.

"The role will oversee asset management activities across Sunsuper's $20 plus billion private markets portfolio in Australia and overseas," a spokeswoman said.

"[He] will work closely within the private markets team, external investment managers and various investee companies to drive the development and implementation of best-in-class asset management across Sunsuper's real estate, infrastructure, private equity and alternative strategies portfolios."

He reports to Sunsuper's head of private markets Michael Weaver.

Hedley was State Super's chief investment for two years, ending in December. To fill his role, the fund hired HESTA's general manager of portfolio strategy and risk Gary Gabriel.

He initially joined State Super as head of unlisted assets and alternatives before being promoted to chief investment officer amid a leadership shuffle. Before this he worked at DWS's RREEF Infrastructure.

Earlier this month, Sunsuper and QSuper said they were in talks to merge, which could create the country's biggest superannuation fund with $183 billion in assets.

Read more: State SuperSunsuperGary GabrielHESTAMichael WeaverRichard HedleyRREEF Infrastructure
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