QIC natural capability lead exits

QIC's lead for its natural capability team has left the post following a strategic review at the $135 billion institutional investment manager.

Andrew Champion was appointed the principal of natural capital in November 2021 and then promoted as head of natural capital in April 2024.

He was responsible for the direct investments into natural capital assets, including diversified agricultural assets and operations and regulated environmental market projects.

"Following a strategic review, QIC has realigned its natural capital capability within the private equity platform," a QIC spokesperson said.

"As part of this transition, Andrew Champion has stepped down from his role as head of natural capital and QIC. We thank Andrew for his leadership and contributions to establishing the capability."

In the last 18 months, Champion was involved in deals that included the QIC, Wollemi Capital and Kalfresh Vegetables consortium.

Some $80 million was invested into the Kalfresh Bioenergy Facility which transforms locally produced food and farm waste into renewable electricity and natural gas.

"I am grateful for the opportunity to pursue this mandate with QIC, building a small portfolio of direct investments which target attractive returns with opportunities for improved productivity and positive environmental outcomes," he said at the time on LinkedIn.

Prior to QIC, Champion was a non-executive director at GM Hotels and spent five years at the now-defunct Blue Sky Alternative Investments.

Champion served as the head of the Syndey office for five years and at the same time was chair of the listed investment company Blue Sky Alternatives Access Fund.

He also held senior positions at private market investment advisory PhillipCapital, Citi and Wilson HTM Investment Group.

QIC recently appointed two partners to its private debt infrastructure team.

Xi Chen, based in London, and Lindsay Scully, based in New York, were promoted from principal after originating and executing several major deals.

The pair oversees deployment of capital as the Queensland government-backed fund expands its global infrastructure debt portfolios for institutional investors.