IFM strengthens Private Equity offering, appoints new executive director

By Industry Funds Management - 9 November 2012


Industry Funds Management will strengthen its private equity capacity by appointing Steven Lipchin to lead its co-investing and direct investing initiatives.

Mr Lipchin was previously Head of Private Equity at Melbourne-based private investment and advisory firm Wingate Group and prior to this was co-founder and Managing Director of South African independent private equity firm Horizon Equity Partners.

Mr Lipchin’s appointment complements the existing private equity capacity of the firm, headed up by Judith Smith. Ms Smith said Steve’s appointment is an important step in the evolution of our Private Equity program.

“Private equity continues to enhance returns for our investors’ members,” she said.

“Around the world pension funds are increasing their allocation to private equity. Here in Australia, over the past ten years, PE net returns outperform most market indices.”

“At the same time we are seeing traditional lenders pulling back from the SME sector, thereby providing good investment opportunities. Australian SME’s currently lack funding and that means IFM has an opportunity to achieve strong returns, while building jobs for Australians in the process.”

“The feedback from our clients is that they want additional direct exposure to private equity. We have responded and Steve will now lead this next phase.”

“I welcome Steve to IFM as our new Executive Director of private equity. He has excellent experience, across a number of private equity markets. The evolution we are announcing today, in extending and evolving our capacity in this asset class increases our focus on co-investment and direct investment with our clients.”

Ms Smith said that IFM’s current fund investing portfolio would be managed separately from direct investment activities.

“IFM’s private equity team has a 14-year record of success and we remain wholly committed to our fund investing program, where we manage $2.6 billion on behalf of our investors,” she said.

Mr Lipchin starts work with IFM on November 12 and will be based at IFM’s head office in Melbourne.


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