Aware Super has created a stand‑alone private markets division, appointing former global head of private equity Jenny Newmarch as its chief. The role reports to CIO Simon Warner and signals a shift toward a total‑portfolio strategy.

With about A$210 billion—roughly $147 billion—in assets under management, the move places private‑market exposure at the forefront of its investment hierarchy. The restructuring follows a trend among large funds to isolate non‑public assets, aiming for higher returns and better risk alignment, and sharper control over capital deployment.

Newmarch’s appointment underscores Aware Super’s commitment to deepening private‑market expertise, potentially accelerating deals across infrastructure, real estate, and venture capital. Investors will watch how the division’s performance shapes the fund’s overall risk‑return profile, given the sizable asset pool and the sector’s growing prominence in pension portfolios.

By carving out a dedicated private‑markets arm, Aware Super signals that it intends to compete with global institutional players that already command significant influence in illiquid asset classes. The move may prompt peer funds to accelerate similar structural changes, reshaping the competitive landscape for private‑market allocations in Australia’s pension sector.