National Reconstruction Fund appoints Lauren McGregor Net Zero lead

• Lauren McGregor has been appointed to lead the National Reconstruction Fund's $5 billion Net Zero Fund.
• The government vehicle holds a total capital allocation of $15 billion to back Australian industry projects.
• The mandate targets decarbonisation for industrial firms and scaling domestic low-emissions technology manufacturers.

The National Reconstruction Fund, known as the NRF, has appointed its director of investments for resources, Lauren McGregor, as the head of its $5 billion Net Zero Fund.

McGregor joined the government-backed entity in March 2025 following senior leadership roles at Perth-based Resource Capital Funds and the Commonwealth Bank (ASX:CBA).

"McGregor will oversee investments to support large industrial firms to decarbonise and help domestic manufacturers of low-emission technologies to scale up their business," stated the NRF.

The broader NRF entity operates with a total capital allocation of $15 billion, which includes the dedicated Net Zero Fund created in September 2025.

Management stated that the Net Zero Fund carries an expected rate of return set at 1% below the five-year government bond rate.

The target sits below the broader portfolio benchmark, which aims for a return of 2% to 3% above the same five-year rate.