Australia’s IFM Investors to Wind Down Private Equity Unit

Australian investment manager IFM Investors will wind down its domestic private equity unit in coming years, citing a lack of scale to make it commercially viable and a focus on other global priorities.

The A$254 billion ($168 billion) firm’s mid-market private equity unit is worth about A$1 billion. IFM is best known for the around A$125 billion it has invested in unlisted infrastructure, and has large allocations across private debt, listed equities and real estate.

The “difficult” decision is in the firm’s best interests, Chief Executive Officer David Neal said in an emailed statement Thursday.

“Whilst the team have delivered ...