Queensland Investment Corporation
Investment company of the state of Queensland, Australia
From Wikipedia, the free encyclopedia
The Queensland Investment Corporation (QIC) is an Australian institutional investment manager and sovereign investor.
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Company type | Government owned corporation |
|---|---|
| Industry | Investment management |
| Founded | 1 June 1991 |
| Headquarters | , |
Number of locations | 7 offices: Brisbane (HQ), Sydney, Melbourne, London, New York, San Francisco, Singapore |
Area served | Worldwide |
Key people | |
| Products |
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| AUM | A$130bn (June 2025) |
| Owner | Queensland Government |
Number of employees | 900+ (as at 2025) |
| Website | www.qic.com.au |
QIC invests across infrastructure, real estate, private equity, private debt, fixed income and multi-asset overlay solutions[1]. It manages funds on behalf of clients in Australia, North America, the United Kingdom, Europe, Asia, and the Middle East, including pension and superannuation funds, sovereign wealth funds, insurers, universities and other government institutions[2].
Although wholly owned by the Queensland Government, QIC operates commercially and invests alongside global institutional partners. As of June 2025, it manages more than A$130 billion in assets under management.[buzzword][citation needed]
Governance
QIC is constituted under the Queensland Investment Corporation Act 1991 and operates as a company Government-Owned Corporation (GOC)[3]. Its Board of Directors, accountable to shareholding Ministers, including the Queensland Treasurer, oversees strategy, risk management and investment performance.[4]
History
QIC was established on 1 July 1991 by the Queensland Government under the Queensland Investment Corporation Act 1991[5] to manage the State’s long-term investments. Its early activities focused on liquid markets (fixed income, currency, cash) and real estate.
| Year | Detail |
|---|---|
| 2002 | Began managing funds for clients outside the Queensland Government. |
| 2004 - 2006 | Opened offices in Sydney, Melbourne, and London; established private equity and infrastructure investment capabilities. |
| 2008 | QIC transitioned from a statutory Government Owned Corporation to a company GOC (QIC Limited) to enhance commercial independence while remaining wholly owned by the Queensland Government.
Became a signatory to the United Nations-supported Principles for Responsible Investment (UN PRI). |
| 2011 - 2014 | Opened international offices in San Francisco, Copenhagen, and New York. |
| 2021 | Launched Private Debt capability[6].
Kylie Rampa appointed Chief Executive Officer, succeeding Damien Frawley.[7] |
| 2023 | Opened an office in Singapore in 2023.[8] |
| 2025 | Andrew King appointed Chairman of the Board[9]. |
Offices
QIC has offices in Brisbane (headquarters), Sydney, Melbourne, London, New York, San Francisco, Singapore and Copenhagen.
Assets
QIC has investments in both Australia and the United States. Most of its shopping mall investments are through a 49% shareholding in a joint venture with Forest City Enterprises.[10][11] In 2017, QIC reached an agreement to buy Forest City's interest in six of FC's eleven mall investments and an option to buy four others, excluding Charleston Town Center Mall in Charleston, WV. Forest City's US shopping centre management operation would also transfer to QIC.[12]
Amongst its investments are shareholdings in:[13][14][15][16]
Australian retail |
United States retailOffice buildingsOther
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