The Board and CEO of the National Reconstruction Fund Corporation (NRFC) are pleased to announce that Dr Mary Manning has been appointed as the organisation’s inaugural Chief Investment Officer.

This key appointment is an important milestone in the NRFC’s establishment.

Dr Manning will oversee investment strategy and portfolio management for the $15 billion fund, which was set up by the Australian Government in September 2023 to diversify and transform Australia’s industry and economy.

Previously a Portfolio Manager at Ellerston Capital and Aphinity Investment Management and having held senior investment positions at Oaktree Capital and Soros Funds Management, Dr Manning brings over 25 years of experience in finance, economics and investment to the NRFC. She has extensive investment experience in Australia and overseas, including in New York, London and Singapore. 

Dr Manning has an MBA from Harvard Business School, a PhD in Economics from the University of Sydney and has completed additional courses at Harvard’s Kennedy School of Government and the Cambridge Institute for Sustainable Leadership. She is a member of 100 Women in Finance and is a graduate of the Australian Institute of Company Directors (GAICD). 

Quote attributable to National Reconstruction Fund Corporation Chair Martijn Wilder AM and CEO Ivan Power: 

“We are delighted to have someone of Mary’s calibre to join the NRFC and lead its investment strategy. Mary’s extensive funds management experience in Australia and globally makes her the ideal candidate to work with our existing team to deploy the NRFC’s $15 billion.

The NRFC has established a strong leadership team, rigorous governance and due diligence and a strong pipeline of deals. We expect to make our first investment announcements in the coming months.”

Quote attributable to Dr Mary Manning, incoming CIO of the National Reconstruction Fund Corporation: 

“I am excited to join the team at the NRFC and take charge of its pipeline of compelling investment opportunities. 

“We have a clear mission to supercharge our seven priority areas, while delivering the targeted return on investment. By investing at scale and with impact, we will help build the foundation of Australia’s economic future.”

Dr Manning will begin the role in July 2024.

The NRFC invests in Australian projects to transform industry capability, grow jobs and a skilled workforce and diversify the economy. It has $15 billion to invest using direct loans, equity investments and loan guarantees. 

The NRFC has seven priority sectors for investment including resources; transport; medical science; defence capability; renewables and low emission technologies; agriculture, forestry and fisheries; and enabling capabilities.   

For more information, please contact the NRFC media team.