Aware Super

Aware Super is an Australian profit-for-members superannuation fund, headquartered in Sydney, New South Wales, with a history dating back to 1992 when it was established as First State Super to serve New South Wales government employees. The company later expanded its membership to all Australians in 2006 and underwent significant mergers, including with Health Super in 2011, and with VicSuper and WA Super in 2020, at which point it rebranded to Aware Super. The firm currently manages approximately A$200 billion in funds for over 1.2 million members, making it one of Australia's largest superannuation funds. Its core purpose is to help members save for retirement, operating on a model where profits are reinvested to benefit members rather than shareholders.

The company offers a range of financial products and services designed to assist individuals in preparing for and managing their retirement. These offerings include various superannuation accounts, retirement income products, and insurance options such as death cover, total and permanent disability cover, and income protection cover. Aware Super's investment products are structured to cater to diverse risk appetites and life stages, including a MySuper Lifecycle option that adjusts investment strategies based on a member's age. The firm employs an active management approach across a globally diversified investment portfolio, encompassing alternative assets like infrastructure, property, and private equity, alongside allocations to liquid markets. A dedicated team of over 150 investment professionals focuses on identifying suitable partners and investments globally to achieve strong risk-adjusted returns for its members.

Aware Super's strategic focus includes international expansion as a key component of its investment strategy, aiming to achieve its target of managing A$250 billion within a few years and becoming a top five performing fund. This expansion is driven by the need to access larger and more attractive capital markets globally to secure optimal investment opportunities for its Australian members. In November 2023, the company officially opened its first international office in London, committing A$10 billion (£5.25 billion) for direct investments across the UK and Europe. The London office, which employs more than 20 investment professionals, is tasked with originating and managing investments in real estate, infrastructure, and private equity within these regions.

While Aware Super's primary business is superannuation, the firm has actively engaged in the property sector, including investments that relate to purpose-built student accommodation (PBSA) and built-to-rent residential developments. In April 2023, Aware Super acquired a 22 percent shareholding in Get Living, a built-to-rent developer that owns East Village in London. More recently, in July 2026, the company made its first global commitment to the student housing sector by partnering with Macquarie-backed operator Tribera. This partnership aims to invest €1 billion in PBSA across Germany, targeting key cities such as Berlin, Munich, Hamburg, Cologne, and Frankfurt. This initiative represents Aware Super's debut real estate investment in Germany and its first direct investment in student housing globally, enabling the firm to diversify its property portfolio geographically into continental Europe and into the alternative student housing sector.

The company's investment philosophy integrates environmental, social, and governance (ESG) factors into its processes, reflecting a commitment to responsible ownership. This approach seeks to deliver strong long-term returns for members while also contributing positively to communities, the economy, and the environment. Aware Super aims to provide comprehensive support to its members, offering online, phone, and in-person advice, as well as educational events and digital tools to facilitate the management of superannuation accounts. The firm's dedication to its profit-for-members model ensures that its operations are aligned with the goal of maximizing retirement savings for its 1.2 million members.