After seven years of trying, we’ve finally done it—this episode of Inside the Rope features one of the most influential figures in institutional investment in Australia: David Neal, CEO of IFM Investors and founding CIO and former CEO of the Future Fund, Australia’s $300+ billion sovereign wealth fund.

David takes us behind the scenes of building the Future Fund from the ground up—how a clean slate, a world-class board, and a clear long-term mandate allowed for a new investment philosophy rooted in flexibility, illiquidity premiums, and global best practice. We talk about the importance of strong governance, the benefits of a total portfolio approach, and why the endowment model still resonates in long-term capital allocation.

Now at the helm of IFM Investors—a global institutional asset manager originally founded by Australian industry super funds—David shares insights into investing on behalf of working people, the tailwinds driving infrastructure investment globally, and why private markets are an increasingly powerful lever for value creation.

IFM was conceived by a collective of Australian industry super funds with a bold ambition: to give working people access to the kinds of global, complex investments traditionally reserved for the ultra-wealthy.

Today, IFM manages over $250 billion across infrastructure, private equity, credit, equities, and real estate—always with a clear mission to deliver strong, long-term outcomes for its members.

In this episode of Inside the Rope, David Clark is joined by Laurence Marshbaum, founder of 10×10 Philanthropy and Community Capital, to explore how wealthy families can embed philanthropy into their legacy. Together, they discuss why more families are establishing Private Ancillary Funds (PAFs) and how strategic giving can sit alongside wealth creation and preservation.

Laurence shares his journey from institutional fund management to purpose-driven investing, shedding light on how families can move beyond ad-hoc charitable donations to structured, impactful philanthropy that endures for generations. They discuss how fund managers and sophisticated investors are also stepping in to provide early-stage capital to high-impact, for-purpose organisations—bringing the same rigour they apply to financial markets to the social sector.

Whether you’re a family considering philanthropy for the first time, or looking to start the conversation, this episode will give you practical insights into how to create lasting social and financial value.