Steve Byrom, head of private equity at the A$148.8 billion ($107.1 billion) Future Fund, and team members David Simons, director, and Jasmina Osmanovic, investment director, left to set up their own business.
Stewart Tillyard, the fund's head of unlisted property, will take on the additional role of acting head of private equity, a Future Fund spokesman said in an email. A search for a permanent replacement will be launched in the new year.
The fund's latest announcement of its portfolio holdings as of Sept. 30 showed an allocation of roughly A$22 billion, or 14.8%, to private equity.
Mr. Byrom, Mr. Simons and Ms. Osmanovic couldn't immediately be reached for comment.