Richard Brandweiner, chief investment officer of Sydney-based First State Super, was named partner at LeapFrog Investments, a London-based private equity firm focused on investments in African and Asian companies serving emerging consumers in those regions.
He will join LeapFrog at the start of 2017.
Under Mr. Brandweiner, such “impact” investments promising social as well as financial outcomes was a focus of First State Super, which has A$50 billion ($37.3 billion) in superannuation savings and another A$21 billion in retirement assets through its recent acquisition of financial planning provider StatePlus, said Michael Baldwin, a spokesman for FSS, in a telephone interview.
FSS will look to collaborate with Mr. Brandweiner and LeapFrog in the area of impact investing in the future, said Mr. Baldwin. Details have yet to be finalized, he said.
Damian Graham, chief investment officer of StatePlus, will step in as acting CIO of First State Super on Aug. 22 as well, while a search for the superannuation fund’s permanent CIO is conducted, said Mr. Baldwin.
Mr. Brandweiner will stay on at First State Super through the end of 2016 in the role of executive investment consultant, to ensure a smooth transition.
A LeapFrog spokesman couldn’t immediately be reached for comment.