Alternative Market Briefing

Opalesque Exclusive: Australian SWF and BT I.M. to invest in alternatives

Friday, November 28, 2008

From Sydney-based Hatfield Liptak Advisors’ November newsletter:

Australian Sovereign Wealth Fund yet to invest in alternatives Australia’s Future Fund had just 0.1% of assets allocated to alternatives as at 30 June 2008, far below its targeted 15% portfolio weighting.

However, the $63.4 billion sovereign wealth fund, (SWF) said in its recently released annual report that ‘we expect to make material progress in this category over 2008/09.’ A full 15% allocation would equate to $9.45 billion.

Mandates have been given to US based Oaktree Capital Management and Sankaty Advisors, while Canyon Capital Advisors LLC had been given commitments which had not been drawn down by financial year end. Sankaty is the US$32 billion hedge fund affiliate of Bain Capital LLC and invests in fixed income and credit instruments. Oaktree has US$54 billion in alternative ......................

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