QIC hires multi-sector private debt director

QIC's multi-sector private debt team is expanding with the recruitment of a new director.

David Spiez, currently QIC's general manager of strategy and operations for private debt, will move to the newly created role next February.

The appointment comes just one month after the Queensland state government investor hired Carlo Lucci as an associate director of the multi-sector private debt team joining from Westpac Institutional Bank

QIC head of multi-sector private debt Phil Miall said since July Spiez has helped shape the direction and strategy of the private debt team, including his role in defining and launching the multi-sector and Infrastructure debt capabilities.

"He has over 22 years of broad sector experience, which includes commercial real estate financing and advisory, global capital markets, equity research and fund management," he said.

"David also has valuable experience in deal origination and transaction structuring and execution through his previous role as managing director - commercial real estate for Europe, Middle East & Africa at Standard Chartered Bank.

Miall said the new appointment will allow QIC to capitalise on the range of attractive investment opportunities available in the Australian and New Zealand private debt space."

Spiez's appointment comes off the back of the recently announced three-year $500 million plus mandate awarded to the asset class by QIC State Investments, which manages the long-term financial interests of Queensland.

The mandate will allow the team to originate loan investments between $20 million and $75 million in Australia and New Zealand.

QIC added its multi-sector private debt offering to its private debt suite earlier this year, which includes global infrastructure debt.

These appointments follow recent changes to the fund's liquid markets group.

Beverley Morris has officially been appointed head of Queensland Investment Corporation's Liquid Markets Group.

Morris, QIC's director of fixed income, replaces Susan Buckley who announced in September that she would leave the fund after 21 years.