David Neal, the CEO of Australia's Future Fund, will leave the A$168.1 billion ($112.9 billion) sovereign wealth fund at the end of February to become chief executive officer of IFM Investors, a Melbourne-based money manager best known for its infrastructure business.
The Future Fund, in a news release Tuesday, said Mr. Neal will leave Feb. 28 after nearly 13 years with the organization, the first half or so as its inaugural chief investment officer and CEO since 2014.
Cameron Price, the Future Fund's general counsel and chief risk officer, will serve as interim CEO while a global search is conducted to find a permanent replacement for Mr. Neal.
At IFM Investors, Mr. Neal is replacing Brett Himbury, who has led IFM Investors for the past 10 years.
At the end of December, IFM had A$163 billion in assets under management, in institutional strategies in infrastructure (equity and debt), debt investments, listed equities and private capital.
An IFM Investors news release said Mr. Neal's start date will be confirmed "in the near future."
The news release offered no details regarding Mr. Himbury's plans. Mr. Himbury couldn't immediately be reached for comment.