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Tuesday, 29 March 2022

Aware Super has confirmed it now holds a 49.9 per cent interest in the Lendlease Retirement Living Trust. One of Australia’s largest superannuation funds, Aware Super acquired a 25 per cent interest in the Trust in February 2021, and followed this with a further 24.9 per cent stake in March 2022.

The acquisition announced today includes ownership of the retirement village portfolio, its associated operating platform, as well as its development capabilities and retirement living development pipeline. The portfolio comprises 75 retirement villages that are home to approximately 17,000 residents across Australia.

Chief Investment Officer, Damian Graham, said the increased stake was consistent with the fund’s Property Strategy, which has seen it play an increasingly prominent role in residential and industrial sectors in recent years.

“As a fund we’re deeply committed to achieving strong, sustainable returns for our members over the long term, while at the same time seeking investment opportunities that have a positive impact in the communities where our members live, work and retire,” said Mr Graham.

“It’s what we mean when we say ‘do well, do good’, and it’s a promise that sets our fund apart in an increasingly competitive superannuation landscape.

“Retirement is such a critical life stage for Aware Super members. We have one of the largest proportions of members who are already in retirement, and we see a number of synergies in the way we think about the solutions we provide for our members, and the way we think about the management and performance of assets that serve the retiree market.

“Our members are deeply engaged with our Investment Strategy, in no small part due to our Strategy’s focus on investing in strongly-performing assets that reflect the interests and expectations of our membership

“We see similar synergies in our Essential Worker Affordable Housing portfolio – through which we’re already committed to building more than 1,000 homes across Australia – and in our industrial developments supporting NSW Police Air and Emergency Services at Bankstown Airport. 

“As a fund we’re excited by the opportunity for our investment in the Lendlease Retirement Living Trust to contribute to a growing global stock of high quality, safe and secure accommodation for communities of retirees who are aspiring to enjoy the retirement years they’ve worked hard to plan and save for.” 

For media enquiries, contact:

Grant Smith, Head of External Affairs

t: 0421559610


Note to Editors

Previously known as First State Super, we changed our name to Aware Super in September 2020.

Aware Super is a name that reflects our members and what we stand for. It echoes the strengths of our past, aligning to our purpose to be a force for good in superannuation, retirement, and advice, driving better outcomes for our members, their families, and communities. 

Aware Super has been the fund for people who value community since 1992, and we’re now one of Australia’s largest funds and continuing to grow. We merged with VicSuper and WA Super in 2020 and now manage $155 billion in savings for more than 1 million members located across the country.

Our members work in roles that breathe life into their communities and they expect us to do the same. So, we invest in assets that we believe will make a positive difference today – improving our communities, building a more a sustainable economy and supporting employment both locally and globally at the same time as providing strong long-term returns. 

Discover how we’re helping members do well financially while doing good in the world: Visit