First State Super, a A$98 billion ($69 billion) Australian pension fund, is looking to build out its investment team and double its assets under management by 2022, according to Bloomberg.
The organization is planning to expand its team from 80 to more than 100 across its equities, fixed income, infrastructure and direct lending expertise.
It also aims to double its size to A$200 billion ($136 billion).
The pension plan is anticipating an impending merger with Vic Super, a A$22 billion ($15 billion) based in Melbourne, Australia, scheduled to finalize in June 2020.
With A$120 billion ($84 billion) in assets under management, the new mega-fund would become second in size to AustralianSuper, which has A$140 billion ($98 billion).
CEO of First State Super Deanne Stewart will lead the charge once the merger is completed.
