John Brakey has resigned as head of private equity at Australian asset management firm MLC after about a year in the role, a spokeswoman from MLC owner National Australia Bank confirmed to Private Equity International.
In 2012, Brakey joined MLC from Kohlberg Kravis Roberts, where he was responsible for investor relations and fundraising in the Australian and New Zealand markets. Prior to that, Brakey was head of private equity fund of funds at Macquarie Funds Group.
John Brakey, former PE
head at MLC
MLC did not provide reasons for his departure, but said that Natalie Meyenn has replaced him as head of MLC’s private equity division and is reporting to Jonathan Armitage, chief investment officer of all MLC’s asset classes.
Meyenn joined the firm in 2007 and served as chief investment officer on its private equity team for the past 14 months.
“Natalie will continue to be responsible for the investment outcomes of the MLC private equity team, as well as the strategic direction of this business,” the spokeswoman said, without giving further detail on the firm’s plans for its private equity business.
She did not comment on rumours that MLC is expanding into the US by establishing a New York or Boston presence.
MLC is the wealth management division of the National Australia Bank and was established to provide superannuation, investment and insurance solutions to individual investors and corporate customers.
As of 2012, MLC has committed over A$5 billion (€3.5 billion; $4.6 billion) to private equity funds and has investments across North America, Europe and Asia Pacific, according to PEI’s Research & Analytics division. MLC has A$85 billion in assets under management and 10 percent allocation to alternative assets.