Pension fund AustralianSuper takes 25% stake in Assemble Communities

Pension fund visual. Credit: Business Korea

Australia’s largest superannuation fund AustralianSuper said Thursday it has picked a 25 per cent stake in property developer Assemble Communities and will invest in the latter’s pipeline of projects.

Financial terms of the investment were not disclosed.

“This investment will enable us to grow our innovative ‘rent with the option to buy’ property portfolio, known as the Assemble Model, which addresses housing affordability and access to homeownership. Over time, the investment will support us to deliver build to rent assets,” Assemble said in a statement.

Assemble managing director Kris Daff said the firm now has the ability to scale to meet market demand for affordable housing and build to rent opportunities.

AustralianSuper’s head of property Bevan Towning said he expected the investment to provide good long-term returns for members while also addressing a significant social issue.

Assemble offers alternative housing pathways that meets the needs of low and moderate-income Australians by providing tenure certainty, the ability to live well, and the ability to form a strong connection to their community.

Make Ventures, which acquired Assemble Communities in 2014, is co-investing up to A$50 million and making available the majority of their project pipeline—in excess of 4,000 dwellings and 120,000 sq metres of non-residential programming—to be delivered by Assemble Communities.

AustralianSuper manages more than A$165 billion of members’ retirement savings on behalf of more than 2.3 million members from around 280,000 businesses. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.