Industry superannuation fund Cbus has committed $950 million in equity raising, debt finance, and project financing to support Australian businesses in the country’s economic recovery, and projects a further $840 million in investments.
Cbus said $240 million had been committed to general corporate debt and $260 million committed to debt funding for construction project financing in Sydney and Melbourne including 390 new apartments in South Melbourne and the inner north east, and a construction facility for a residential project close to the Sydney CBD.
A further $450 million had been injected into Australian capital raisings which was done via internally-managed equity portfolios and externally-managed mandates.
Cbus chief investment officer, Kristian Fok, said the super fund was well placed to assist companies with the capital they needed to keep operating and employing.
“As the economic landscape has changed so rapidly this year, companies have had capital issues. This has provided an opening for Cbus to be a capital partner for companies that play an important role in the Australian economy while building better retirement outcomes for our members,” Fok said.
“On the debt side, we are proud to have been able to step up and support shovel ready projects – particularly in Victoria during this difficult time.”
Also commenting, Cbus chief executive, Justin Arter, said the fund’s ability to assist businesses showed the value of super as a national capital pool.
