Paul Costello joins QIC committee
The former head of the Future Fund Paul Costello has the joined QIC Global Infrastructure Investment Committee as the independent chairman.
Costello will oversee investment and divestment proposals made by QIC's Global Infrastructure team.
These include a new fund from four investors totalling $645 million for smaller investors.
Costello said he is excited to help QIC expand its infrastructure funds management offerings to clients.
"Governments around the world are recognising a greater role for private sector participation in infrastructure," he said.
Costello will be joining other committee members including the two founders Ross Israel and Matina Papathanasiou, and two partners on a rotating basis.
The committee also includes independent expert Peter Forbes.
Costello left the Future Fund in 2010 after working there for four years. Before that he was the first CEO of the New Zealand Superannuation Fund.
He also sits on the Qantas Super board.
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