NZ Super names private equity lead

The Guardians of New Zealand Superannuation has appointed William Fletcher as head of private equity and alternative investments, bolstering leadership across one of the fund's fastest growing investment portfolios.

Fletcher joins from Fisher Funds, where he managed the firm's global private equity and alternatives portfolio. His career also includes senior investment roles at Goldman Sachs, J.P. Morgan and Carlyle AlpInvest.

In the newly appointed role, Fletcher will oversee the NZ Super Fund's direct private equity investments and manage relationships with external investment managers across a range of listed and unlisted asset classes.

Fletcher said he was looking forward to joining an organisation with a strong global investment reputation.

"I am excited to be joining an organisation of the super fund's calibre and helping to realise what is a really important objective for all New Zealanders," Fletcher said.

Guardians' co-chief investment officer Will Goodwin said Fletcher's international investment experience aligned well with the fund's global strategy.

"Fletcher's international experience matched the super fund's global investment focus and would help the super fund further develop its broad network of asset managers and investment partners," Goodwin said.

Private equity and alternative investments account for about 13% of the NZ Super Fund's approximately NZ$93 billion portfolio.

The appointment follows the fund's recent commitment of NZ$35 million to Movac's latest venture capital fund, continuing its support for New Zealand's technology sector.

Earlier this year, the NZ Super Fund was also recognised by Private Equity International as its Asia-Pacific Limited Partner of the Year, reflecting its growing profile as a global institutional investor.