IFM: Co-heads to run diversified credit

IFM Investors, a global investment manager owned by Australian industry funds, has made a few significant changes to its Australian diversified credit team to help drive growth in the asset class.

The industry fund-backed investor has appointed Lillian Nunez and Hiran Wanigasekera co-heads of the business.

The duo will lead the team formerly managed by the now head of APAC diversified credit and debt investments, Bruce Potts.

IFM said the newly created  co-head role will help drive the evolution and next stage of growth of IFM's diversified credit strategy.

It will also bring additional focus to supporting and growing the investment team's capabilities.

Nunez was most recently director of debt investments and was responsible for joint management of key credit portfolios and credit product strategies.

She also heads the team responsible for conducting credit analysis, due diligence, investment recommendations and portfolio asset management support to the debt investments team.

Wanigasekera had a similar role but also managed the day-to-day running of debt portfolios.

Both Nunez and Wanigasekera have worked at IFM for over 15 years and have worked closely with Potts to help lead the expansion of IFM's investment capabilities.

Potts - who joined IFM in 2009 but has been associated with the firm for much longer - will become senior executive portfolio manager and oversee the day-to-day management of IFM funds and portfolios.

IFM's debt investments asset class has $59.8 billion in funds under management as of 30 September 2023.

"It's exciting to take on this new role as we continue to grow and evolve our diversified credit capabilities, which have been an important part of IFM's overall growth as we seek to invest, protect and grow the retirement savings of working people,' said Nunez.

Wanigasekera added: "It's great to be co-leading a team focused on delivering long-term, risk-adjusted returns for our clients and that has the skills and patience to manage the complexity and illiquidity associated with specialised credit."

The promotions follow last week's appointment of Rekha Misra as global head of product strategy and innovation.