Australia's newly established $53.7bn (€36.3bn) Future Fund, a government-sponsored scheme to cover future pension costs, has bolstered its growing investment team with the appointment of an investment director for private markets.

Steve Byrom, who has more than 12 years of private equity experience, joins from the New Zealand Superannuation Fund, where he was a special adviser. His previous experience includes roles with ANZ Private Equity in Auckland, SG Hambros in London and Ernst & Young in London and Auckland.