TLDR:
AustralianSuper, the country’s largest superannuation fund, has taken a significant hit on its investment in American online education start-up Pluralsight, losing over $1.1 billion in equity and loans. This marks its largest venture capital failure to date.
AustralianSuper, managing $341 billion in retirement savings for over 3 million individuals, has been aggressively expanding its investments in private credit and equity, including in the United States. The fund has suffered a loss of $US757 million on Pluralsight, a once-promising video training firm based in Utah.
Despite the setback, AustralianSuper continues to make strategic investments in various sectors, emphasizing the importance of diversification and risk management in its portfolio.
Overall, the fund’s experience with Pluralsight serves as a reminder of the risks associated with venture capital investments and highlights the need for thorough due diligence and ongoing monitoring of such opportunities.
