Perennial Partners and Dexus have both made senior appointments to their fund management teams.
Perennial Partners, which has $7.6 billion in assets under management, has appointed Luke Fay as co-head of Perennial Private Investments to strengthen its private market capabilities.
Perennial Private Investments runs two funds to provide capital to early-stage private businesses through to exit or public listing. This provides wholesale investors with the opportunity to invest in a diversified portfolio of public companies.
He joins from alternative investment firm Artesian where he worked for a decade as managing partner and head of venture capital, leading its private company investments.
Brendan Lyons, co-head of Perennial Private Investments, said: “Luke’s extensive experience across private markets and investment banking brings valuable depth to our team. His proven track record in deal execution and portfolio management will enhance our capabilities in sourcing new opportunities, supporting existing portfolio companies, and managing successful exits from our investments.”
Meanwhile, Dexus has made two internal promotions in its fund management team, both of whom will join Dexus’ executive committee.
Michael Sheffield has been promoted from head of diversified and infrastructure, executive director, to executive general manager for fund management. He joined Dexus in May 2014 from Colonial First State Global Asset Management, and spent a decade as a manager on the Dexus Wholesale Property Fund.
In the new role, he will be responsible for the performance and operations of Dexus’ existing $39.7 billion real estate and infrastructure funds platform.
Jason Howes has been promoted to executive general for fund capital and product development where he will be responsible for the development and distribution of new funds products across the Dexus platform.
He joined Dexus in 2020 from Lone Star Funds as head of alternatives and healthcare funds.
Group chief executive and managing director, Ross Du Vernet, said: “Funds management is a key pillar of our strategy and these appointments elevate our executive focus through two distinct roles. One is focused on driving the performance of our existing funds and the other on evolving the products we offer our clients as their investment needs and the investment opportunities change.”
Du Vernet joined Dexus in March 2024 to replace Darren Steinberg who left after 12 years as CEO to join IFM Investors as the head of its real estate investment committee.
