Close Search
News  |  Fundraising

HESTA Commits $40 Million to Australia’s Impact Investment Market

8 June 2018 at 5:07 pm
Luke Michael
A leading industry superannuation fund for the health and community services sector has committed $40 million to grow Australia’s impact investment market.

Luke Michael | 8 June 2018 at 5:07 pm


HESTA Commits $40 Million to Australia’s Impact Investment Market
8 June 2018 at 5:07 pm

A leading industry superannuation fund for the health and community services sector has committed $40 million to grow Australia’s impact investment market.

HESTA announced on Thursday that it was allocating $40 million to fund investments that generate both a measurable social impact and a market-based financial return.

It is the second commitment made through HESTA’s Social Impact Investment Trust (SIIT), which is managed by Social Ventures Australia (SVA).

Launched in 2015 with an initial commitment of $30 million, the SIIT has become one of Australia’s largest dedicated impact investment funds.

This latest investment comes in the midst of significant growth for Australia’s impact investment market, which has nearly doubled in size from $2.1 billion in December 2014 to $4.1 billion in December last year.

HESTA CEO Debby Blakey, said this partnership with SVA had assisted the development of the impact investment market in Australia.

“Our successful partnership with SVA provides a blueprint for institutional investors,” Blakey said.

“Our ongoing collaboration combines SVA’s expertise in impact investment with HESTA’s investment experience and discipline, and our deep knowledge of the health and community services sector.”

Blakey said HESTA’s focus was on identifying impact investments in the health and community service (HACS) sector.  

“Through our actions, we want to help drive long-term meaningful change. By committing to invest in projects in the health and community services sector, we’re helping address social issues impacting not only the community but also our members,” she said.

“Through supporting the growth of the impact investment market, we’re also helping to develop alternative, stable sources of funding to the HACS sector that can create jobs and opportunities for our members.

“We understand that the positive impact we can have goes much further than our impact investment program. As a fiduciary we understand that we need to achieve strong financial returns for members. But it’s much bigger than that. We also need to ensure we’re having a positive impact on the world our members will retire into.”

The SIIT’s largest investment so far is $19 million to help finance the development of Australia’s first dementia village in Glenorchy, Tasmania.

This development involves a partnership between HESTA, SVA, Glenview – a not-for-profit aged care provider – and the federal government.

The SIIT has also invested in community housing provider Horizon Housing, to deliver more affordable housing.

SVA CEO Rob Koczkar said the partnership between SVA and HESTA was a sign of the growing maturity of Australia’s social impact investment market.

“SVA is delighted to be deepening our partnership with HESTA through this new commitment to the Social Impact Investment Trust,” Koczkar said.

“It is a sign that the social impact investment market in Australia is continuing to mature, with increasing opportunities to invest for both social and financial return.

“We are pleased that our investments, in social and affordable housing and state of the art aged care, are helping to build an Australia where all people and communities can thrive; and we look forward to working closely with the social purpose sector to support more projects like these.”

Luke Michael  |  Journalist  |  @luke_michael96

Luke Michael is a journalist at Pro Bono News covering the social sector.

PB Careers
Get your biweekly dose of news, opinion and analysis to keep you up to date with what’s happening and why it matters for you, sent every Tuesday and Thursday morning.

Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers? Get in touch at or download our contributor guidelines.


Panel Discussion Webinar

Get more stories like this


Your email address will not be published.


New dementia documentary sheds light on the need for more community awareness

Samantha Freestone

Friday, 24th June 2022 at 6:07 pm

Research reveals new givers ripe for targeting

Danielle Kutchel

Wednesday, 15th June 2022 at 4:29 pm

Fundraising’s best and brightest share their journeys

Danielle Kutchel

Tuesday, 14th June 2022 at 8:39 am

Fundraisers look to the future at FIA Conference

Danielle Kutchel

Wednesday, 8th June 2022 at 12:16 pm

pba inverse logo
Subscribe Twitter Facebook