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Cbus Super announces merger with EISS
Melbourne-based Cbus Super, one of Australia’s leading integrated property developers and investors, has completed its merger with Energy Industries Superannuation Scheme from Sydney, forming a $54 billion fund that serves 900,000 members.
Cbus Super’s portfolio includes major investments and developments in the commercial, retail and residential sectors and currently exceeds A$6 billion ($4 billion), with a further A$5 billion ($3.3 billion) of development work under way.
“Cbus is unique in that we invest back into the industries that our members work in through our wholly owned subsidiary, Cbus Property,” said Cbus. “We create jobs for our members and new business opportunities for our employers. Two recent examples are major renewable projects, Bright Energy Investments and Star of the South, Australia’s first offshore wind project.”
This marks Cbus’s second merger in the past 13 months.