Industry fund ARIA has appointed Greg Bayles to replace Briar Dowsett as its alternative investments portfolio manager.
Dowsett left the fund to join NAB Capital last week.
Bayles spent the past two years working as a consultant to various super funds, including ARIA.
Before that he worked for 15 years in the United States for investment bank Lehman Brothers and private equity specialist Cypress Group.
The fund said it would also appoint a property portfolio manager in the near future.
ARIA has beefed up its private equity exposure and only this week said it had committed $80 million to investing directly in international private equity.
It appointed United Kingdom private equity consultant Altius Associates to help it with investments in Europe and the US.
"Our focus is on maximising the likelihood of consistently strong returns while keeping risks and cost at an acceptable level for members," ARIA chief executive Steve Gibbs said.
"Altius Associates will help us tap into opportunities for quality returns from international private equity."
