This fund manager must defy history for his biggest ever deal to work

You don’t need to tell Pinnacle Investment Management chief executive Ian Macoun that he’s taking one of the biggest risks of his career.

Macoun knows that the long history of Australian fund managers expanding overseas is strewn with disasters. He’s seen how hubris and arrogance can kill the most logical of deals. He’s watched global fund managers come to Australia and fail, ignorant of the fact that what works at home doesn’t always work Down Under.