Hostplus, a A$34 billion ($24 billion) Melbourne, Australia-based superannuation fund for hospitality employees, hired Flexstone Partners to run a U.S. private equity emerging managers program, Crystal Sullivan, spokeswoman for Flexstone's parent, Natixis Investment Managers, said in an email.
During the next three years, Flexstone Partners will invest in the first, second or third funds of U.S. mid-market private equity managers on Hostplus' behalf.
"This partnership between Hostplus and Flexstone is a demonstration of super funds' search for new and diverse income streams for their members, and how our global multiaffiliate model can provide institutions with tailored solutions in new markets, while supporting innovation," said Louise Watson, managing director for Australia at Natixis Investment Managers, in a news release.
Hostplus declined to provide the size of the commitment.