The federal government’s Future Fund is reportedly benefiting from widespread underpayment and exploitation of skilled chefs.

Fairfax Media reports say the Future Fund – Australia’s sovereign wealth fund – has invested $160 million in Quadrant Private Equity No.4, a group that owns Neil Perry’s Rockpool Dining Group.

Rockpool is currently caught in a major wages scandal, with claims that its chefs are required to work excessive unpaid overtime, leaving their wages well below the minimum rates of the award.

Fairfax says some staff have been paid for 38 hours a week while working 20 to 30 hours of unpaid overtime, leaving them with as little as $15 an hour.

As a major investor, the Future Fund receives investors, profits and dividends from the Rockpool business, which is expected to make $40 million in profits in 2017/18.

Finance Minister Mathias Cormann has avoided questions about whether the Future Fund should consider labour practices when it invests.

Mr Cormann’s spokesperson says the fund “operates independently from the government”.

A spokesperson for the Future Fund said ethical and labour issues are matters for Quadrant Private Equity.

Quadrant says any money owed to employees would be paid back in full as soon as possible.