QIC launches direct private debt capability, appoints head

QIC has appointed ex-AMP Capital private debt specialist Andrew Jones to lead its new private debt capability.

QIC chief executive Damien Frawley says their new offering will offer institutional investors a structural solution that is appropriate in a low-yield environment. "We believe private debt is a structural solution for today's institutional investors seeking access to defensive income stream with a strong yield in this 'lower for even longer' environment," said Frawley.

This is the first new real asset capability from QIC since the launch of its infrastructure offering in 2006.

Jones left AMP Capital in mid-2020 following more than 20 years with the organisation. It was his experience in industry that made him an attractive prospect for QIC. "Andrew possesses a highly-respected global investment capability along with one of the market's strongest abilities to attract global capital into infrastructure debt mandates through his global relationships," said Frawley.

"His appointment will deepen the synergies that already exist with QIC's strong reputation for infrastructure equity management globally."

Said Jones of his appointment, "I am excited to join QIC and bring Australian and global institutional investors a solid platform from which they can access strong risk-adjusted returns that are defensive, stable and broadly uncorrelated with listed equity markets.

"By providing a leading, skilled, active management approach to private debt, which will include astute asset selection, debt structuring, and management, QIC will prioritise our investors and deliver them the strongest returns available."