Fund managers drawn to A$2.3 trillion pension pie

Sydney

MORE global fund managers are setting up shop in Australia, drawn to the nation's A$2.3 trillion (S$2.42 trillion) pension savings pool and new local investment opportunities.

THL Credit Inc, an alternative credit manager based in Boston, said in September that it hired a director in Australia.

New York-based credit hedge fund GoldenTree Asset Management opened an office in Sydney last month after appointing a local managing director.

Oaktree Capital Management, which already manages Australian pension money, headed Down Under last year as it also sought local investments.

The developments are part of a broader global trend as low interest rates in N…