A conversation with the Secretariat
Exclusive interview with Damien Beddoes, CEO of Cook Islands National Superannuation Fund and Secretariat for the Pacific Islands Investment Forum.
As Secretariat for PIIF, can you share with us the role you play in the organisation and your professional journey leading up to this role? What were some of the pivotal moments that prepared you for this role?
I first became involved in the original body PPFSSF (8 member Funds) in my capacity as CEO for the CINSF, which was before the establishment of the PIIF. My initial role was to revive the regional organisation, and to do this we needed to change the constitution and provide for more investment funds across the Pacific to join. In 2018 in the Cook Islands, we established the PIIF with 18 Funds from 12 Pacific Countries and set objectives based on collaboration, education, and co-investment. Since that point we have continued to provide a platform for all of these objectives.
From your vantage point, what are the most significant trends shaping investment opportunities in the Pacific Islands? How is PIIF positioned to leverage these trends?
The current trend is for Pacific governments to seek donor funding and partners to develop their countries and national infrastructure. Whilst in developed countries there is more infrastructure being developed by major Sovereign Wealth, Superannuation, Provident Funds, and Trust Funds.
This is a trend we would like to see changed in the Pacific to enable our Pacific Funds to invest in Pacific Infrastructure.
What have been some of the most significant challenges faced within PIIF, and how has the Fund overcome them?
Our biggest challenge is always our geographical spread, it makes it hard to bring us together. We have continued to maintain an annual CEO Forum that provides for all our objectives at a single event. By hosting a single annual event we are able to make it affordable for all funds to send representatives and work on our objectives.
In future we look forward to providing more events as the demand rises.
How crucial are collaborations and partnerships in advancing PIIFs objectives? Could you highlight a partnership that has been particularly impactful?
Extremely crucial, especially when many of our members are smaller funds with limited resources. Collaborations and partnership gives them access to information, technical assistance, resource development, education, and investment opportunities.
We have had successful partnerships with the New Zealand Ministry of Foreign Affairs with initial support to the PIIF Secretariat, the World Bank & IFC through research work on coinvesting, and the ADB through technical assistance and program objectives.
Looking ahead, what are your hopes and aspirations for PIIF? Are there any new initiatives or directions you are particularly excited about?
The PIIF secretariat is working hard behind the scenes to launch the co-investment platform with partners. This new platform is also working collaboratively with the Pacific Islands Forum Secretariat on behalf of the FEMM to bring together regional players to develop solutions to enable the movement of Pacific Capital into Pacific Infrastructure Developments.
What has been the most rewarding aspect of being a part of the PIIF for you so far?
Bringing our Pacific Investment Leaders together and sharing our successes and our lessons, we have a very special group of talented Pacific Islanders and I am very proud to stand alongside them and work with them to help our Pacific People.
About Damien Beddoes:
Damien Beddoes is of Fijian and Samoan decent. He currently resides in the Cook Islands after moving to Rarotonga, the main island in the Cook Islands, in 2001 with his wife and family. Damien is passionate about advancing and empowering Pacific people. He has been the dedicated CEO of Cook Islands National Superannuation Fund since 2014 and Secretariat for the Pacific Islands Investment Forum since 2018.