HESTA, the superannuation fund dedicated to Australia’s health and community services sector and manages more than $51 billion in assets invested around the world, has committed $200 million to a property mandate managed by ISPT that will focus on identifying investment opportunities in Australia’s fast-growing healthcare sector.
The mandate will focus on investment opportunities in private hospitals, general medical and residential aged care property.
HESTA CEO Debby Blakey said this latest commitment was another example of how HESTA was leveraging its deep relationships in HACS to generate strong, long-term returns for members, while supporting jobs and growth in the sector where they work.
“We are actively looking for investment opportunities as Australia’s aging population will see the need for a significant expansion in services and facilities in the coming years,” Debby Blakey said.
“HESTA has been a trusted industry partner for more than 32 years and our patient, long-term investment approach means we are ideally placed to support our sector as it seeks to meet future demand,” she added.
ISPT CEO Daryl Browning said, “ISPT looks forward to continuing our long and successful partnership with major investor HESTA as they invest in the Health and Community Services sector”.
HESTA CIO Sonya Sawtell-Rickson said the focus on healthcare and aged care property would provide diversification for the broader HESTA property portfolio.
“Healthcare and aged care property assets are not as exposed to the economic cycle as other types of large scale commercial or retail property investments we have in the portfolio,” Sonya Sawtell-Rickson said.
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