Australian superannuation fund Rest has invested in a sustainable agriculture fund ran by UK private market firm Cibus Capital.
The investment marks the third impact commitment for Rest, the $80bn superannuation fund aims to have at least 1 percent of its portfolio invested in impact strategies within the next two years.
“We expect this investment will generate exposure to mid-market agriculture companies that own real assets with profit generating potential. This will bring diversity benefits to our alternatives portfolio, while delivering long-term value for our members” explained Rest’s head of Responsible Investment & Sustainability, Leilani Weier.
The investment in the Cibus II fund offers Rest among others exposure to a glasshouse tomato producer focused on year-round production in renewable energy powered facilities.
The portfolio also includes a producer and supplier of vegetable seedlings to growers across Eastern Australia pursuing plans to create more efficient and sustainable water and waste management practices through automation and robotics. It is also targeting environmental planting opportunities in Australia.
The investment with Cibus marks Rest’s third impact investment, following capital commitments to the Palisade Impact Fund and specialist private equity firm ARCHIMED.
Rest did not yet disclose the sum of the investments.
