Rest allocates $150m to Australian climate investor Wollemi Capital
The Australian super fund’s backing will help Wollemi launch its first managed vehicle
Rest, an Australian superannuation fund with $99bn under management, has announced a $150m investment in Sydney-based specialist climate investor – Wollemi Capital.
Wollemi, which operates a global portfolio, was co-founded by former BCG Ventures executive Paul Hunyor and Tim Bishop, former global head at Macquire Capital.
Wollemi’s investment strategy targets opportunities in energy, waste, industrials and natural capital. In particular, the strategy is geared towards projects that are “too capital intensive for venture investors but not yet at the scale of traditional infrastructure”
“Wollemi’s focus on supporting today’s innovative climate solutions to become tomorrow’s sustainable infrastructure is well aligned with Rest’s own commitment to helping build a more sustainable future”, commented Hunyor.
Growth alternatives
For Rest, the allocation forms part of the superannuation fund’s Growth Alternatives portfolio.
“This commitment will allow Rest to deploy capital at scale, through our Growth Alternatives strategy, into opportunities that do not necessarily fit with traditional asset classes and portfolio structures, which we believe will benefit from the next major tailwinds and will form an important part of investment portfolios in the future”, says Marina Pasika, Rest’s head of global alternatives.
Rest’s climate solutions tilt is closely linked to its relatively young membership. “Rest represents more than 2 million members, including around 1.5 million who will retire after the year 2050”, said Simon Esposito, the interim chief investment officer.
“Through this commitment with Wollemi, our members will gain exposure to a strong pipeline of innovative climate solutions we expect will contribute to and benefit from decarbonisation”, Esposito adds.
By 30 June 2026, Rest is aiming to allocate 1% of funds under management to ‘impact-generating’ investments. The fund’s climate disclosures also show that it had invested over $1.78bn in renewables and ‘low-carbon’ solutions with a view to increase that amount to $2bn by 30 June 2025.
