William Fletcher has spent eight years on the investment banking side of Goldman Sachs in Auckland, and now he is crossing to the other side of the table. The Guardians of New Zealand Superannuation, which manages the $93 billion NZ Super Fund, has named him Head of Private Equity & Alternative Investments.
Fletcher arrives from Fisher Funds, where he ran the global private equity and alternatives portfolio. Before that came the Goldman years as an Executive Director, and earlier banking and investment jobs in Europe and the UK. His CV also lists J.P.Morgan in the UK and Carlyle AlpInvest in The Netherlands.
What the job covers
He will be answerable for the fund’s direct private equity investments. He will also look after its relationships with outside managers who hold mandates across a broad range of listed and unlisted securities.
“I am excited to be joining an organisation of the Super Fund’s calibre and helping to realise what is a really important objective for all New Zealanders,” Fletcher said. He added that the Guardians had a well-deserved reputation for excellence and that he was looking forward to joining the investment team.
Will Goodwin, the Guardians’ co-Chief Investment Officer, said Fletcher’s international experience fits the fund’s global investment focus. It should also help the fund extend its broad network of asset managers and investment partners, Goodwin said.
The portfolio he inherits
Private equity and alternatives make up some 13 percent of the fund’s total assets under management.
The appointment follows an announcement last week that the fund would commit $35 million to Movac’s latest fund. Movac is a local technology investor.
The fund has also been getting outside recognition. Earlier this year Private Equity International magazine named it Asia-Pacific Limited Partner of the Year.
