Allocates $150 million to Australian climate investment firm, Wollemi Capital, by Rest.
Rest Superannuation Fund Invests $150 Million in Wollemi Capital
In a move to bolster its commitment to renewable energy and low-carbon solutions, Rest Superannuation Fund, an Australian superannuation fund representing over 2 million members, has invested $150 million in Wollemi Capital, a Sydney-based specialist climate investor.
Wollemi Capital, co-founded by Paul Hunyor (former BCG Ventures executive) and Tim Bishop (former global head at Macquire Capital), operates with a global portfolio and focuses on supporting innovative climate solutions to become sustainable infrastructure. The investment from Rest will anchor Wollemi’s first third-party fund, enabling the firm to scale its investments in climate-related solutions.
Rest's investment in Wollemi Capital is part of its strategy to increase investments in climate solutions. By 30 June 2025, the fund aims to invest over $2bn in renewables and low-carbon solutions, having already invested over $1.78bn as of now. This investment aligns with Rest's commitment to helping build a more sustainable future.
Simon Esposito, interim chief investment officer at Rest, stated that through the commitment with Wollemi, members will gain exposure to a strong pipeline of innovative climate solutions. Marina Pasika, head of global alternatives at Rest, believes the commitment will allow deploying capital at scale into opportunities not fitting traditional asset classes.
Wollemi Capital's investment strategy targets opportunities in energy, waste-to-value, industrials, and natural capital. The strategy aims to deliver both attractive financial returns and significant climate impact, particularly within Australia. The firm's focus on projects that are too capital-intensive for venture investors but not yet at the scale of traditional infrastructure reflects its strategic approach.
The allocation by Rest is part of its Growth Alternatives portfolio. Rest's climate disclosures show its commitment to increasing investments in renewables and low-carbon solutions. The fund aims to allocate 1% of funds under management to impact-generating investments by 30 June 2026.
Rest's climate solutions investment strategy is closely linked to its relatively young membership. With around 1.5 million members who will retire after the year 2050, the fund is making a long-term commitment to a sustainable future.
[1] Rest Superannuation Fund Invests in Wollemi Capital [2] Rest Superannuation Fund Commits to Climate Solutions [3] Rest Superannuation Fund Scales Up Investments in Climate-Related Solutions [4] Rest Superannuation Fund and Wollemi Capital Partner for Sustainable Future [5] Rest Superannuation Fund's Climate Disclosures Show Commitment to Renewables and Low-Carbon Solutions
- The investment by Rest Superannuation Fund in Wollemi Capital is not only a step towards bolstering its renewable energy investments but also a move to support environmental-science endeavors that combat climate-change.
- With its $150 million investment in Wollemi Capital, Rest Superannitation Fund is venturing into financially promising climate solutions, aiming for attractive returns while reducing carbon footprint and fostering a sustainable environment.
