Christian Super, a Sydney-based superannuation fund overseeing A$1.5 billion ($1 billion) in retirement assets, has acquired a "significant minority" stake in Zurich-based impact investment boutique responsAbility Investments AG, according to a joint news release Friday.
The release said Christian Super becomes the investment manager's first non-Swiss shareholder, joining local financial institutions such as Swiss Re and Vontobel Beteiligungen AG.
Spokesmen for Christian Super and responsAbility didn't immediately respond to requests for details regarding the size of Christian Super's stake or the price paid.
ResponsAbility, founded in 2003, manages $3 billion in private debt and private equity funds invested in emerging markets "to promote the growth of privately owned companies in inclusive finance, renewable energy and sustainable agriculture," the news release said.
The release said 10% of Christian Super's portfolio is already allocated to investments that aim to generate "both financial returns and positive social or environmental outcomes."
A Christian Super spokesman couldn't immediately say if the plan has previously worked with responsAbility.