Australia’s biggest super funds are on an overseas hiring blitz in a bid to reduce expensive external management fees and get in on lucrative private equity and infrastructure deals earlier, as the $3.5 trillion sector outgrows local markets.

The $300 billion AustralianSuper plans to triple its overseas headcount to 300 over the next three years while the $150 billion Aware Super is hoping to have its newly announced London office open and staffed by Christmas.