Jo Townsend Appointed CEO of New Zealand Super Fund

The Guardians of New Zealand Superannuation, who manage the New Zealand Superannuation Fund, the country’s NZ$70 billion ($42.03 billion) sovereign wealth fund, announced the appointment of Jo Townsend as CEO.

Jo Townsend

“We are excited to have Jo join the Guardians’ team. She is a highly experienced CEO with a 30-year career in the Australian investment sector,” said Guardians Board Chair John Williamson in a statement. “Jo is a proven people leader with a track record of developing high-performing teams, attracting talent and building strong stakeholder relationships.”

Townsend will succeed Matt Whineray, who was CEO of the Guardians from 2018 through December 2023, and will replace acting CEO Paula Steed upon her appointment, effective in April.

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“I am absolutely thrilled to be joining the Guardians,” Townsend said in a statement. “The NZ Super Fund is known and respected globally as a high-performing institutional investor. The Guardians’ purpose—sustainable investment delivering strong returns for all New Zealanders—sums up the importance of the Fund to the country.”

Prior to her appointment at NZ Super, Townsend was CEO of Funds SA, a superannuation fund for the Australian state of South Australia, from 2016 to 2023. She held numerous positions in the investments industry in Australia for the past 30 years, including at REST Industry Super, NGS Super, Retirements Benefit Fund, Value Capital Management and Rothchild Asset Management, according to the press release.

Townsend earned a bachelor’s degree in mathematics and finance from the University of Technology Sydney. She is an independent member of the investment advisory committee of the Australian Olympic Foundation.

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Tags: CEOs, Jo Townsend, New Zealand, NZ Superannuation, Paula Steed, Super Fund

The University Pension Plan Ontario’s first investment under the partnership is an undisclosed stake in Great Britain’s largest rolling stock company.

Canada’s C$10.8 billion ($8 billion) University Pension Plan Ontario has launched a partnership with London-based Arjun Infrastructure Partners to seek infrastructure investments within the 38 countries that make up the Organization for Economic Co-operation and Development.

Under the new partnership, the first investment the pension fund and the $6.2 billion infrastructure fund manager made was an undisclosed stake in U.K.-based rolling stock company Angel Trains. According to the UPP, it also made a “meaningful commitment” to Arjun’s Infrastructure Alliance Europe fund, adding that the initial investment is “laying the groundwork” for future co-investments.

“A key part of our investment strategy is partnering with market-leading, like-minded investors like Arjun on attractive co-investments and we are confident this investment can help UPP generate strong and stable long-term returns for our members,” said Peter Martin Larsen, UPP’s senior managing director and head of private markets investments, in a statement. “Given UPP’s desire to support the transition to a low-carbon economy and Angel Trains’ focus on decarbonizing their fleet, along with the company’s strong management team, shareholder group and business, this is a very attractive opportunity for us.”

Angel Trains, the U.K.’s largest rolling stock company, serves the passenger rail sector and owns a fleet of approximately 4,400 vehicles, most of which are electric-powered multiple-unit trains.

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“Angel Trains has excellent ESG credentials with sector-leading commitment to decarbonization and innovation,” said Surinder Toor, Arjun Infrastructure Partners’ managing partner, in a statement. “Its ‘cradle-to-grave’ asset stewardship approach ensures fleets deliver their full potential throughout their asset lives.”

UPP serves more than 39,000 working and retired members at four Ontario universities and 12 sector organizations.