International funds disbursement of $150 million directed towards Australian climate investment firm, Wollemi Capital
Wollemi Capital, a Sydney-based specialist climate investor, has secured a significant investment of $150 million from Rest, an Australian superannuation fund. This investment aligns with Rest's commitment to helping build a more sustainable future.
Founded by Paul Hunyor, former BCG Ventures executive, and Tim Bishop, former global head at Macquire Capital, Wollemi Capital focuses on supporting innovative climate solutions to become sustainable infrastructure. The investment will enable Wollemi to launch its first managed investment vehicle and scale impact-oriented, capital-intensive investments in energy, waste, industrials, and natural capital.
Wollemi's strategy targets projects that are too capital-intensive for venture investors but not yet at the scale of traditional infrastructure. The company operates with a global portfolio and invests in four main sectors:
- Energy: Developing or scaling low-carbon energy projects to reduce emissions.
- Waste-to-value: Turning waste streams into valuable products or energy.
- Industrials: Supporting industrial decarbonization and sustainable manufacturing.
- Natural capital: Investments that protect or restore ecosystems, enhancing carbon sequestration and biodiversity.
Rest's investment in Wollemi Capital is part of their Growth Alternatives portfolio. Marina Pasika, head of global alternatives at Rest, believes the commitment will allow for capital deployment at scale into opportunities that may not fit traditional asset classes. Simon Esposito, interim chief investment officer at Rest, states that through this commitment with Wollemi, members will gain exposure to a strong pipeline of innovative climate solutions.
Rest, with over 2 million members, including around 1.5 million who will retire after the year 2050, aims to allocate 1% of funds under management to 'impact-generating' investments by 30 June 2026. By 30 June 2025, Rest aims to invest over $2bn in renewables and 'low-carbon' solutions. This investment in Wollemi Capital is a step towards achieving these goals.
The climate solutions tilt of Rest is linked to its relatively young membership. Rest's climate disclosures show a commitment to increasing investments in renewables and 'low-carbon' solutions. The investment in Wollemi Capital underlines this commitment and positions both entities as key players in the Australian climate investment landscape.
As of now, Rest has invested over $1.78bn in renewables and 'low-carbon' solutions, and Wollemi Capital has invested in numerous climate solutions across the globe. This strategic partnership between Rest and Wollemi Capital is poised to accelerate the growth of impact-driven climate solutions in Australia and beyond.
- Wollemi Capital's focus on supporting innovative climate solutions aligns with Rest's investment in environmental science, particularly in the development of low-carbon energy projects.
- Through the investment in Wollemi Capital, Rest is not only scaling up its capital-intensive investments in energy but also in other sectors such as waste-to-value, industrials, and natural capital, which all contribute to climate-change mitigation.
- With the significant investment in Wollemi Capital, Rest members gain investing opportunities in real-estate projects that are linked to climate-change solutions, as Wollemi also focuses on projects that protect or restore ecosystems, enhancing carbon sequestration and biodiversity.
