January 14th, 2016
HESTA has made a $6.7 million investment in Horizon Housing, a community housing provider operating in Queensland focused on increasing the supply of social and affordable housing and helping low income earners achieve home ownership.
The super fund, which has more than 800,000 members working in health and community services, made the investment through HESTA's $30 million Social Impact Investment Trust. The fund invests in opportunities that deliver both a financial return and a measurable social impact.
Managed by Social Ventures Australia (SVA), the Trust is one of Australia's largest impact investment funds and represents the biggest single commitment by an Australian superannuation fund to the local impact investing market.
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In conversation with Nicole Richards at the Philanthropy Meets Parliament Summit, Daniel Lee shared his insights on topics including the role of philanthropy as a driver of systems change which addresses root causes of social challenges, the relationship between philanthropy and government and what the new political environment in the United States means for philanthropy.