Former Dexus Chief Executive – Funds Management, Deborah Coakley, joins QIC’s $112 billion alternatives platform to lead its Real Estate funds business and multi-billion development pipeline after Michael O’Brien chose to step down from his position.

Prior to her appointment to QIC, Coakley was responsible for managing Dexus’s circa A$30 billion real estate funds management business which comprises wholesale pooled funds, capital partnerships, retail and opportunistic funds, and listed REITs across retail, office, industrial and healthcare asset classes.

Coakley spent 11 years with Dexus. As Chief Executive of Funds Management, she reported to the CEO and was a member of the Dexus Investment Committee.

Ross Du Vernet, Group CEO and Managing Director, Dexus said: “Deborah has had a successful career at Dexus, most recently playing an important role in the growth of Dexus’s funds management business and the diversification of the investor base. I would like to thank Deborah for her significant contribution and wish her all the best for the future.”

QIC CEO Kylie Rampa said Coakley’s appointment would build on the work of Michael O’Brien and his team to position QIC’s real estate platform for continued evolution and growth in alignment with investor objectives.

Rampa thanked Michael O’Brien for his leadership of the QIC Real Estate team throughout his tenure.

“Michael and the team steered the portfolio through the destabilising impacts of COVID-19 and the complex market environment in the years following the pandemic. He also led a number of significant redevelopments at our assets in line with evolving consumer preferences.

“I want to thank Michael for his commitment throughout his tenure and wish him all the best for the future,” Rampa said.

Coakley is highly regarded for delivering investment management and performance outcomes for investors as well as globally leading environment, sustainability and governance outcomes.

“Deborah brings significant and long-term experience both as a real estate funds management professional and as a change leader across the property sector and in human resources – considered essential for effective leadership at QIC. We welcome Deborah to the Executive Leadership Team at QIC,” Rampa said.

“QIC manages a significant portfolio of real estate with core and core plus exposures to retail, office and industrial, and Deborah will continue to drive value for our investors across our funds and growing SMA offering, enabling us to work with clients via different investment structures.

“Our assets are characterised by their quality and dominance, location across major growth corridors, superior transport connectivity, localised design and strong community partnerships.

“In addition to managing its core and core plus portfolios of assets, QIC is master developer of the four inner-city precincts above Brisbane’s Cross River Rail underground rail network – responsible for delivering four transformational mixed-use precincts as one of Australia’s largest urban renewal programs, with A$6-9bn of potential end value,” Rampa said.

Coakley said she was excited to be joining QIC Real Estate to lead its team of skilled professionals across Australia.

“It’s a privilege to be joining QIC, one of Australia’s largest private markets managers, and to work with its highly experienced real estate team.

“It’s an exciting time for real estate. The landscape is changing and this calls for a manager and developer who can bring unique opportunities to clients. QIC is well positioned to do so.

“Personally, I look forward to the exceptional opportunity to leverage QIC’s global investment experience and the multi-disciplinary nature of its investment teams to benefit the real estate business, driving strong performance across its funds and assets for QIC’s clients.”

Coakley is also a Non-Executive Director of the Children’s Cancer Institute, a Member of the National Construction Industry Forum, and during her time at Dexus was Vice President of the Property Council of Australia.

She holds a Bachelor of Business degree from University of Technology Sydney (BBus) and is a graduate of the Australian Institute of Company Directors (GAICD).