Colonial First State hired global TAA managers Neuberger Berman to run A$105 million (US$112 million) and First Quadrant to manage A$85 million in Colonial First State’s FirstChoice investment platform.
The platform serves “superannuation funds, corporate funds and retail,” according to Max Darnell, chief investment officer at First Quadrant.
The Neuberger Berman hiring was confirmed by Richard Chimberg, a spokesman for the firm, in an e-mail. In a separate e-mail, Mr. Darnell wrote: “We’re very excited to have been selected by Colonial First State for the first alternatives manager allocation that they’ve ever made available on their FirstChoice platform.”
Sources say a third manager, quant firm Aspect Capital, was likewise added to the platform. Spokeswoman Julie Moneger declined to comment.
Colonial First State spokeswoman Felicity Goodwin couldn’t immediately be reached for comment.