National Reconstruction Fund appoints Ivan Power as Chief Executive Officer
We are delighted to have partnered with National Reconstruction Fund on the appointment of Ivan Power as Chief Executive Officer.
Ivan Power is a significant player in the technology and financial markets in Australia. He has advised numerous ventures, startups and disruptive companies that are flourishing in today’s market. Ivan has a strong history in financial services, having contributed substantially to the success of Macquarie Group’s portfolio and performance division. He is an active investor and has numerous advisory board roles – often in companies in which he has invested.
NRF investment will help grow Australia’s industrial capabilities, improve value-adding manufacturing opportunities and create secure jobs.
It provides finance in the form of debt and equity for projects in priority areas to diversify and transform Australia’s industry and economy. These priority areas are – renewables and low emission technologies; medical science; transport; value-adding in agriculture, forestry and fisheries; value-adding in resources; defence capabilities and enabling technologies. The fund is banned from investing in fossil fuel industries and is governed by a board who will make independent investment decisions guided by an investment mandate.
Ivan has stated that such requirements would not result in a cautious approach to investment, adding returns would be assessed over the medium term.
He says, “I am so conscious we are investing the money of Australian taxpayers. We’ve got to balance that against the really bold ambition that’s in the act and in the mandate that is diversifying and transforming Australian industry” adding, “The return is across the portfolio. We expect that is going to be a big, broad and diverse portfolio, which is a lot of how you manage risk…But we are not going to achieve the instructions in the mandate if we don’t take risk. If we’re not prepared to take risk, which many private investors do every single day, then we’re not going to achieve our mandate…We have to be prudent in how we are assessing, pricing and managing [risk] but really consciously we do have to take it.”