QIC global private capital head departs

Marcus Simpson, head of global private capital for QIC, has retired from the organisation.

Simpson announced the move on his LinkedIn. "I'm retiring from QIC after an amazing 15 years building a A$7bn AUM global private equity program from scratch. The program has one of the highest investment returns globally, making a real difference for existing and future retirees."

He said the success of the program came from the talented and diverse investment team at QIC, and heaped praise on his colleagues. "Thanks to everyone who supported, challenged, opened doors, and who actively participated in often abstract conversations. You made a difference."

Before joining QIC in 2005, Simpson was the CEO for the US office of Altius Associates, was head of private equity for the Virginia Retirement System, and VP of corporate finance for Bankers Trust Company in London.

A spokesperson for QIC says that Stephen Whatmore, who is presently based in San Francisco and set up the US division, will return to Australia to take over the head of global private capital role.

Reporting from Kanika Sood at Financial Standard contributed to this report.