NGS Super and Australian Catholic Super in talks to create $15.4b merger

Two Australian superannuation funds — NGS Super and the Australian Catholic Superannuation and Retirement Fund — are reportedly in talks about a potential merger that would create a A$21.5 billion ($15.4 billion) superannuation fund, according to several news sources.

The combined superannuation fund would represent the community and non-government education sectors.

According to Investment Magazine, the idea is to serve members “within a larger like-minded education industry fund,” according to David Hutton, chair of Australian Catholic Super, who noted the merger represents a great opportunity to be part of a niche fund with a national footprint.

The two funds have been in informal talks about the potential joining for several years, and have now signed a formal memorandum of understanding and will begin due diligence.

Australian Catholic Super represents around A$9 billion ($6.5 billion) in assets and NGS Super represents some A$12 bil