February 12 2024
Media Release

Rest expands impact and alternative allocations with investment in Cibus Fund II

Rest, one of Australia's largest profit-to-member superannuation funds, has expanded its impact investment and strategic alternatives allocations through an investment in the agriculture-focused Cibus Fund II.

The fund, advised by Cibus Capital LLP, focusses on delivering strong returns through investment opportunities related to the food value chain.

Sustainable food production and agriculture practices offer significant value potential to Rest members and are essential for the global transition to net zero, said Rest’s Head of Responsible Investment & Sustainability, Leilani Weier.

“Through our investment in Cibus Fund II Rest is growing its exposure to the dynamic and sustainable future of agriculture.

“We expect this investment will generate exposure to mid-market agriculture companies that own real assets with profit generating potential. This will bring diversity benefits to our alternatives portfolio, while delivering long-term value for our members.”

The investment is the first impact investment within Rest’s alternative asset class and brings Rest closer to its target of achieving a one per cent allocation to impact investments across its total portfolio by 2026, says Weier.

“As a super fund representing one in five young Australians, we believe impact investing represents a powerful opportunity for us to grow our members’ super, while helping to build a more sustainable future.

“The allocation provides exposure to initiatives at the forefront of modern agriculture and opportunities that address the growing need for environmental plantings and natural assets.”

“Cibus is delighted to partner with Rest, who has shown leadership by channeling capital towards companies who are shaping the future of food,” said Rob Appleby, Chief Investment Officer of Cibus Capital.

“By combining commercial logic, technology and sustainable outcomes to each investment we make, we have demonstrated that the industry can produce healthier food, use resources more efficiently and meet its nature-based target.”

Examples of Cibus Fund II investments:

  1. A state-of-the art glasshouse tomato producer undertaking work expected to form the basis for a platform focused on the production of year-round produce in renewable energy powered facilities.
  2. A major producer and supplier of vegetable seedlings to growers across Eastern Australia pursuing plans to create more efficient and sustainable water and waste management practices through automation and robotics. It is also targeting environmental planting opportunities in Australia.

Cibus Fund II is Rest’s third impact investment, following Rest’s capital commitments to the Palisade Impact Fund and specialist private equity firm ARCHIMED, all of which have been assessed under Rest's impact investment framework.

About Cibus Capital LLP

Cibus Capital LLP is the London-based investment advisor to the Cibus funds. The Cibus funds partner with food and agriculture companies that provide investors with a risk-adjusted return on capital and a sustainable competitive advantage. Cibus has raised over USD 1bn to invest in two strategies: mid-market growth/buyout investments in food production and processing businesses and late-stage agrifood technology companies. For more information visit: www.cibusfund.com.

About Rest

Established in 1988, Rest is one of Australia’s largest profit-to-member superannuation funds, with more than 1.96 million members and around $75 billion in funds under management as at 30 June 2023.

For further information please visit our media centre or contact:

Michael Mills
Senior Manager, Communications – Media Relations
m: 0428 499 722

Emma Kerswell
Senior Manager, Communications – Consumer and Content
m: 0498 709 830

This information has been prepared without taking account of your objectives, financial situation or needs. Before acting on the information or deciding whether to acquire or hold a product, consider its appropriateness and the relevant PDS and TMD which is available at rest.com.au/pds. Issued by Retail Employees Superannuation Pty Limited ABN 39 001 987 739, AFSL 24 0003 (Rest), trustee of Retail Employees Superannuation Trust ABN 62 653 671 394.

Rest media releases are point-in-time statements and are current as at the date of publication. Information may not be current and up to date after the date of publication. Please note the date of issue and check Rest’s website for other information on the same or related matters.