IFM chief executive Brett Himbury said the move would enable an increased focus on investor returns and direct investments, providing clients with a broad suite of investment options in unlisted operating companies.
The team will invest via global private equity fund investments, private equity co-investments, direct private equity investments in growth-focused small to medium enterprises (SMEs), and long-term direct asset investments in defensive businesses.
The combined group will be led by Phillip Bower, who IFM said has over 14 years' experience in private equity, including several years as a managing director at Unitas Capital, and as CEO of two significant buy-outs.
Executive director Steve Lipchin will drive expansion into direct investments in small and medium-sized enterprises and co-investments with private equity managers, IFM stated.
IFM currently manages approximately $2.4 billion across Australian and international private equity investments, in both private equity funds and co-investments.
IFM said there will be no changes to the management of its existing private equities fund of fund programs.
