The NAB Foundation, as part of its comprehensive $170 million corpus, has unveiled a new $50m impact investing fund (IIF).
Cathryn Carver (pictured left), NAB group executive and JBWere chair, announced the fund at the Asia Pacific Impact Investment Summit in Sydney, highlighting its role in sustainable investment solutions for Australia’s housing crisis.
This initiative comes at a critical time as the Urban Development Institute of Australia’s 2025 State of the Land report forecasts a severe shortfall, projecting a need for an additional 400,000 dwellings in the combined capital cities by 2029.
Initially embedding $25m of its capital into the IIF, with $10m already deployed, the NAB Foundation aims to expand its investment to $50m by October 2026.
The fund is dedicated to identifying and financing projects and organisations that not only promise measurable positive impacts but also offer appropriate financial returns, focusing on indigenous economic advancement, social and affordable housing, and climate transition.
JBWere has taken on the role of investment manager for the IIF, underlining the growing importance of impact investing in today’s financial landscape.
Michael Saadie (pictured right), CEO of JBWere, emphasised the firm’s expertise in advising purpose-driven organisations.
A specialised investment committee, chaired by Ben Smith from the Paul Ramsay Foundation, has been established to steer the fund.
The committee aims to harness NAB Foundation’s readiness to invest across various risk/return profiles to maximise impact.
Smith expressed enthusiasm about the fund’s potential and its alignment with broader market growth in Australia.
The IIF is set to support significant community initiatives, contributing up to $6m annually in philanthropic grants and partnerships, Carver said.
This move is part of a broader strategy to leverage NAB’s resources for societal benefit, ensuring that investments are both impactful and aligned with the foundation’s sustainability priorities.
