AustralianSuper selected ISPT and QIC to manage the A$75 billion (US$71 billion), Melbourne-based industry superannuation fund's direct investments in residential property development projects in Australia.
Spokesman Licardo Prince said AustralianSuper doesn't have specific targets as to how much it will invest with each money manager.
In a news release Thursday, Jack McGougan, head of property at AustralianSuper, said both ISPT and QIC were selected on the strength of their experience in identifying "long-dated" projects appropriate to AustralianSuper's focus on making direct property investments.
Mr. McGougan couldn't immediately be reached for further comment.
