Rest, one of Australia’s largest profit-to-member superannuation funds, has committed US$150 million (~A$230 million) to specialist climate investor Wollemi Capital, backing the Sydney-based firm’s strategy focused on decarbonisation and next-generation infrastructure.
The investment sees Wollemi launch its first managed vehicle and adds to Rest’s growing portfolio of impact-generating and sustainability-focused investments.
Rest’s Interim Co-Chief Investment Officer, Simon Esposito, says: “Rest represents more than 2 million members, including around 1.5 million who will retire after the year 2050.1 We are thinking deeply about the future world they’ll retire into and are focused on making a positive contribution to a more sustainable future – because it’s fundamental to growing their retirement savings.
“We believe decarbonisation will continue to influence the global economy and society for many decades to come and expect this long-term trend to create valuable investment opportunities for our members. Through this commitment with Wollemi, our members will gain exposure to a strong pipeline of innovative climate solutions we expect will contribute to and benefit from decarbonisation.”
Rest’s Head of Growth Alternatives, Marina Pasika, adds: “This commitment will allow Rest to deploy capital at scale, through our Growth Alternatives strategy, into opportunities that do not necessarily fit with traditional asset classes and portfolio structures, which we believe will benefit from the next major tailwinds and will form an important part of investment portfolios in the future.
“This is the fourth impact investment in our Growth Alternatives portfolio and puts us closer to our target of allocating 1% of total funds under management to impact-generating investments by 30 June 2026.”
Wollemi invests across energy, waste to value, industrials and natural capital, with a focus on businesses and projects that are too capital intensive for venture investors but not yet at the scale of traditional infrastructure.
Wollemi Co-Founder and Co-CEO, Tim Bishop, says: “We’re excited to be partnering with Rest, one of Australia’s leading superannuation funds with a long-standing commitment to sustainability and climate impact, to create our first Wollemi-managed investment vehicle.”
Wollemi Co-Founder and Co-CEO, Paul Hunyor, says: “Wollemi’s focus on supporting today’s innovative climate solutions to become tomorrow’s sustainable infrastructure is well aligned with Rest’s own commitment to helping build a more sustainable future.”
The firm, led by former Macquarie Capital Head Tim Bishop and former BCG Ventures executive Paul Hunyor, has made investments in companies and projects across Australia and North America.
Rest defines impact-generating investments as investments made in members’ best financial interests to provide a financial return while also providing a positive and measurable impact to society and/or the environment.2
1 As at 30 June 2025, Rest has approximately 1.5 million members who will become eligible for the Age Pension in the year 2050 or later.
2 For further information on how Rest assesses impact investments through a proprietary impact due diligence framework, refer to Rest’s FY24 Sustainability, Responsible Investment and Climate Change Supplement, pages 35 – 37.
About Rest
Established in 1988, Rest is one of Australia’s largest profit-to-member superannuation funds, with 2 million members and around $99 billion in funds under management as at 30 June 2025.
For more information, please visit our media centre or contact:
Michael Mills
Senior Manager, Communications – Media Relations
michael.mills@rest.com.au
m: 0428 499 722
Emma Kerswell
Senior Manager, Communications - Consumer & Content
emma.kerswell@rest.com.au
m: 0411 794 206
About Wollemi Capital
Wollemi Capital is a specialist global climate investor. Headquartered in Sydney and with ~35 staff across Australia and the USA, Wollemi invests in the businesses and assets underpinning the sustainable economy of the future. With a focus on bridging the climate growth capital gap, the firm invests across four core themes: Energy transition, Waste-to-value, Industrial decarbonisation and Natural capital & Agriculture
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