Cbus super social and affordable housing investment hits just under $140 million
Cbus Super, Australia’s leading building and construction industry super fund, continues to be a leader in social and affordable housing funding after receiving $51 million in allocations in two recent National Housing Finance and Investment Corporation (NHFIC) funding rounds. This includes $10 million allocated to Cbus in NHFIC’s landmark first Sustainability Bond and $41 million across NHFIC’s two latest Social Bond issuances.
These investments take Cbus Super’s total allocation to NHFIC issuances to just under $140 million.
Cbus Super CEO Justin Arter said the latest investments show the strength of the NHFIC model.
“It’s pleasing that Cbus has crossed the $100 million investment milestone while the total value of NHFIC’s bonds has topped $2 billion,” Mr Arter said.
“This shows the strength of the NHFIC bond aggregator model and the demand in the market for the products they offer.
“By bringing together different levels of government with the community housing sector and investors like Cbus, NHFIC has enabled capital to be deployed in an innovative and impactful way.”
Cbus Super CIO Kristian Fok said Cbus advocacy for the bond aggregator model was paying off for members and the community.
“Right from the beginning our team advocated for a bond aggregator that could fund new builds for social and affordable housing,” Mr Fok said.
“These investments meet our risk and return requirement for members, while providing a robust funding source for affordable and social housing.
“The new construction supported by these issuances shows the model works. Cbus is proud to be supporting this construction through our investments.”
The latest Social Bond issuances will support more than 1,000 new and over 2,800 existing homes in NSW, Victoria, Tasmania, Western Australia and South Australia. The Sustainability Bond will support the delivery of around 600 social homes, 450 affordable and private rental homes and 50 supported disability accommodation across sites in Melbourne.