Con Michalakis Joins Funds SA as CIO

Con Michalakis is joining as CIO the $46 billion Australian public sector investment manager Funds S.A., which manages investment portfolios on behalf of the state of South Australia’s public sector superannuation funds and public authorities.

Michalakis is currently the deputy CIO of Australian super fund Hostplus. He will join Funds S.A. in February 2025 and replace Matt Kempton, who has led the investment team for the last six months as acting CIO. Michalakis will report to Funds S.A. CEO John Piteo.

Michalakis has served as Hostplus deputy investment chief since March 2022, following the merger between Hostplus and Statewide Super. He was head of investments at Statewide Super for 13 years before that and, in that role, was a member of the 2021 CIO Power 100 list. At Statewide, he became known for his bold investing style—one that inevitably led to taking highly concentrated and contrarian stakes in coveted assets.

Before working at Statewide, Michalakis was director of marketing and client services for New York-based boutique Pzena Investment Management, tasked with looking after the firm’s products and services in Australia, New Zealand, Hong Kong and Singapore. He also served as head of institutional business for Merrill Lynch Investment Managers, based in Sydney.

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Michalakis also worked in London with Alliance Capital Management and was the first Australian practice leader of investment consulting for Watson Wyatt.

Piteo said he is delighted to have Michalakis join the Adelaide-based fund.

“Con is a highly experienced CIO with a proven track record in delivering strong, consistent investment returns over many years,” Piteo said in a statement. “He is greatly respected for his leadership, commercial acumen and building deep stakeholder relationships within the investment management and superannuation communities.”

Michalakis said he is looking forward to joining Funds SA.

“As a proud South Australian, I’m passionate about delivering exceptional investment outcomes for our clients,” he said in a statement.

Piteo added: “[Kempton] has made a superb contribution as acting chief investment officer of Funds SA over the last six months. His dedication in leading the investment team, building trust and respect with clients and driving an outcomes-focused culture during this time have been greatly appreciated.”

This article appeared in our sister publication, Financial Standard, which, like CIO, is owned by ISS STOXX.

Tags: Con Michalakis, Funds S.A., Hostplus, John Piteo, Statewide Super

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