Michelle McNally will join Aware Real Estate, Aware Super's new property platform, as CEO, a spokesman for the Sydney-based A$155 billion ($107.5 billion) superannuation fund confirmed Thursday.
Ms. McNally will oversee Aware Real Estate's A$1.5 billion portfolio of Australian industrial, office and residential property assets.
Aware Real Estate was created to manage the superannuation fund's "directly owned Australian build-to-rent, industrial and office property portfolio … (and) is part of a suite of measures the fund is pursuing to achieve greater efficiencies" and even stronger returns for its 1.1 million participants, an Aware Super news release said Thursday.
Altis Property Partners, a Sydney-based Australian real estate investment manager that's worked with Aware Super in the past, will play "a foundational role in establishing" Aware Real Estate's portfolio," the news release said.
Ms. McNally was general manager, investor solutions, market strategy and engagement at ISPT, a property investment firm with A$20 billion in funds under management. ISPT was launched in 1994 by a handful of big super funds. Susannah Bourke, an investor relations executive at ISPT, declined to comment about plans to replace Ms. McNally.