CEO of Australia's $255 billion sovereign wealth fund steps down

Australia's A$356 billion sovereign wealth fund is searching for a new CEO after Raphael Arndt announced his departure to rejoin the private sector at the year's end. Arndt has served as CEO for six years and previously held the role of chief investment officer. His exit follows significant personnel changes within the fund, including the departure of CIO Ben Samild and two senior private markets executives.

Despite these changes, the fund performed well, generating a 14.8% return, translating to A$37 billion. Arndt credits the fund’s strong performance to active equity, private markets, and hedge fund investments. Future Fund Chair Greg Combet expressed confidence in the fund's future performance, stating Arndt "leaves the Fund well positioned."