ISPT hires Future Fund exec for new role

ISPT, the superannuation fund-backed investment manager, has filled a newly created head of mandates position by tapping the Future Fund's head of unlisted property.

Sitting within ISPT's funds management team, Doug Cain will oversee investment performance across the property platform's mandates business.

The role includes creating new real estate investment products and supervising the management of new and existing mandates, clubs, and joint ventures.

Cain spent three years at the Future Fund, running the sovereign wealth fund's global real estate investment strategy.

Before that, he spent ten years with PSP Investments as a senior director in the real estate investments group.

There he was in charge of acquisitions, divestments, and asset management across Australia, New Zealand, Mexico, Columbia, and the United States.

Previously, he was with CIBC World Markets in the real estate investment banking business for five years.

All up Cain has acquired over US$15 billion of assets ranging from fund investments, direct property acquisitions and privatisations of public REITs.

ISPT head of funds management Matt Brown said Cain's experience and strong transactional skills will be "highly beneficial" as the platform expands and diversifies its investment offerings.

His appointment comes after ISPT reshaped its executive leadership team last June and appointed Tom Waters as head of development four months later.

Meanwhile, ISPT announced the departure of head of capital and product development Luke Briscoe.

Briscoe joined ISPT in April 2022 from AMP Capital.

Additionally, Andy Buchan, the mandate manager, will exit this week.

Buchan has held several senior roles, including head of fund performance and analytics, where he developed many platforms that underpin ISPT's valuations and performance reporting for investors.

He also helped set up the IRAPT Fund in 2013 and has been central to ISPT's recent foray into the healthcare sector.