Goldman Sachs Asset Management has invested $137 million into specialist disability housing investment fund, Synergis.
The fund is a joint venture by SVA and Federation Asset Managers, and was founded in 2019 with a vision for every person with a disability in Australia to have access to a home. So far, Synergis has deployed $70 million across 50 properties, providing homes for over 150 Australians living with a disability.
For many of those living in SDA housing, rent is subsidised by the NDIS.
The commitment from Goldman Sachs will give the fund a major boost towards its goal of providing homes for over 2,000 people who currently don’t have access to appropriate housing.
At the same time, the deal represents a further adoption of impact investing by mainstream investors. The support of Goldman Sachs is vindication for Synergis, of the potential that disability housing offers for both strong returns, and genuine impact.
The firm joins other key investors in the fund including: the Paul Ramsay Foundation, HESTA, Laurie Macri’s Portcullis House and Suncorp Group.
“This is an important milestone, for Synergis but also for disability housing in Australia. SVA and Federation created Synergis because we wanted to address the lack of appropriate housing for people with disability. An investment on this scale shows that models like Synergis, that put people’s needs first, really do work.” says Suzie Riddell, CEO of SVA.
The specialist disability housing sector is growing rapidly with similar capital allocation support coming from For Purpose and Conscious Investment Management.