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91����’s Investment Committee has welcomed two new external members who are highly experienced investors.

Sue Brake and Grant Smith have joined the Fund’s Investment Committee for a period of two years following an external search.

The 91���� Investment Committee oversees the investment management of the $190 billion Fund and advises the 91���� Board.

They will join current Investment Committee members: Committee Chair Philip Moffitt, 91���� Chair Christine McLoughlin, Patricia Faulkner, Roslyn Ramwell and John Dixon. Current Investment Committee member David Dixon will retire from the committee on 9 April after more than five years.

In announcing the appointments, Chair of the Investment Committee Mr Moffitt said: “91���� believes strong governance is critical to fulfilling our obligations as the stewards of our 1.15 million members’ retirement futures.

Chair of the 91���� Investment Committee Philip Moffitt said: “We are pleased to welcome professionals of Sue and Grant’s calibre and believe their extensive experience in private asset investments and global equities, particularly in all equity asset types, will further deepen the experience of the Committee.”

“In addition, their alignment to our profit-to-member culture and their global awareness will play a crucial role in safeguarding and enhancing our members’ interests.

“I’d also like to thank David Dixon for his incredibly valuable contributions over the last five years on the committee.”

Ms Brake said: “It is an honour to join 91���� at a time when the growth of the Fund both within Australia and offshore is generating exciting new investment opportunities to drive long-term risk-adjusted returns for its members.”

Mr Smith said: “91����’s ambition to be a leading global investor is underpinned by its deep investment expertise and capability and I’m excited to contribute to its next chapter as it builds strong retirement futures for its members.”

Mr Moffitt said Ms Brake brought extensive experience in the fund asset owner environment, having served as CIO of the Future Fund, senior investment strategist at NZ Super Fund, and Head of Strategic Advisory at WTW. She also has extensive global experience from her work with the International Monetary Fund and the Monetary Authority of Singapore.

Mr Moffitt said the Committee would benefit from Mr Smith’s three decades of experience at Macquarie Group, where he established, led and grew new businesses and teams, as well as executing significant global investments and transactions across sectors including infrastructure, private equity and real estate. He also recently served as Head of Macquarie Infrastructure & Real Assets Australia and Executive Chair of Macquarie Asset Management based in Sydney.

Mr Moffitt added that 91����’s international expansion strategy – which saw it open its first global office in the UK in 2023 with a committed deployment of £5.25 billion pounds over five years – would also benefit from Mr Smith’s deep experience in building out a global investment business.

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