Health Super started a review of Wilshire Associates following the resignation last week of Ovidio Iglesias, senior managing director of Wilshire in Australia, according to Brendon Shepherd, chief investment officer of the A$7 billion (US $6.4 billion) fund.
The Melbourne, Australia-based superannuation fund is an investor in Wilshire's Australian and international private equity funds of funds. Mr. Shepherd said the review was started because Mr. Iglesias is considered a key individual.
Mr. Iglesias, a senior managing director of Wilshire Australia Pty., oversees the Asia-Pacific team and serves as a member of the Wilshire Private Markets Management Committee. He established Wilshire's Canberra office in 2000.
Wilshire, which manages A$3 billion locally in Australian and offshore private equity funds of funds, was rocked last week by several simultaneous resignations, including that of Mr. Iglesias. Grant Fleming, the managing director of Wilshire Associates Japan, also resigned. The number of other senior executive departures was unclear at press time, but is believed to number between five and 10 in total.
Spokesmen for Wilshire were unable to be contacted by press time.
Michael Bailey is editor of Investment magazine, Sydney.