Cbus and UniSuper have invested in a new $315 million bond issue, which the government will use to finance affordable housing in five states.
Cbus took up $30 million of the National Finance and Investment Corporation (NHFIC)'s second bond issue of $315 million. UniSuper's investment size was not reported by NHFIC.
The money raised by the bond will be loaned to seven community housing providers, who will build 2000 properties and support 360 new social and affordable dwellings.
NHFIC chief executive Nathan Dal Bon said: "NHFIC is very pleased with the strong level of demand from both local superannuation funds and offshore investors for its bonds and to see CHPs from around Australia benefitting from NHFIC's finance."
"Super funds have an increasing desire to invest in social and affordable housing in Australia and NHFIC's bonds provide them with an opportunity to do this at scale."
Cbus chief investment officer Kristian Fok said the fund is a second-time investor in NHFIC's social and affordable housing bonds.
"It is fantastic to see the tangible impact that NHFIC is having for Community Housing Providers by creating savings through lower interest costs and through construction of social and affordable homes," Fok said.
"As the leading super fund for the building and construction sector we are pleased to invest in NHFIC bonds that meet our investment risk-return criteria and fund new housing construction for Australians in need."
ANZ, UBS and Westpac were the joint lead arrangers for the bond issue. King & Wood Mallesons was the legal advisers.
In Victoria, HousingFirst and the Port Phillip Trust will get total $72 million, Haven Home Safe will get $65 million and Housing Choices Australia will get $55 million.
In New South Wales, Bridge Housing will get $51.14 million.
Other borrowers include Churches of Christ ($4.86 million, Queensland), Foundation Housing ($35m million, Western Australia) and Anglicare SA ($32 million, South Australia).