QIC private debt head steps down

QIC's head of private debt, Andrew Jones, will take on a new role as deputy chair of the fund's private debt investment committees and strategic advisor.

His decision to step down comes after more than two years of building out QIC's private debt strategy. 
The private debt specialist joined from AMP Capital following more than 20 years with the organisation.

QIC chief executive Kylie Rampa thanked Andrew for his commitment to QIC's private debt team.

"Andrew has reached a stage in his life where he is keen to reset his working arrangements. He has been a fantastic member of my leadership team and has created an excellent foundation for our burgeoning private debt platform," she said.

"I am so pleased QIC continues to benefit from his expertise and approach moving forward in this new capacity."

After more than 35 years working in the financial services industry, I have decided now is the right time to retire from my role as head of private debt with QIC," Jones added in a social media post.

"There are many highlights to look back on over the years but, genuinely, it has been the fantastic people I have met and worked with all over the world that I will remember as being the most satisfying part of my career. "

The fund will announce Jones' replacement announcement within the coming weeks.

The fund launched its private debt offering in 2020 to provide institutional investors with access to a burgeoning asset class combining the stability of infrastructure assets with the downside protection and complexity premium of private lending.

The fund now has US$700 million of assets under management, with investment professionals in this asset class.

In 2021, QIC also launched its multi-sector private debt capability.