Barry Brakey Leaves Pinnacle for Future Fund

Mr Brakey will leave successful real estate consultancy Pinnacle Property Group, which he founded 20 years ago with business partner Graeme Parton, who will remain at the helm of that company.

An asset manager and valuer, Mr Brakey described the offer as a “once in a lifetime” opportunity, saying he thinks it will be difficult, but rewarding.

First item on the agenda when he starts in April, is devising a strategy on how to spend part of the $61.3 billion in funds controlled by Future Fund, which formed in 2005 using part of the cash derived from the full privatisation of Telstra.

The Fund’s purpose is to accumulate enough financial assets by 2020 to offset the Australian Government’s unfunded superannuation liabilities.

So keen is the government to hold its own against the listed institutions, it lured David Murray from his position as chief executive officer with Commonwealth Bank – a position he held for 13 years.

The timing of Mr Brakey’s appointment couldn’t be better, with sharemarket volatility a great time to be a cashed up investor, sources say.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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