June 2026 marked the first close of the Fund and as part of this, the Fund’s first investments were made during the month. In infrastructure, the investment team invested in the Palisade Impact Fund via the acquisition of secondary units in the fund. This means WRAF investors now have established exposure to a mature portfolio of next generation infrastructure assets that provide essential services to support the future economy. The Palisade Impact Fund holds five portfolio companies: GigaComm, PureSky Energy, Repurpose lt, IPLiving, and Energy Locals. GigaComm is a next-generation telecommunications provider which supplies high-speed internet to wholesale and retail customers. PureSky Energy is a developer, owner and operator of US community solar and battery storage projects. RepurposeIt is a leading resource recovery provider specialising in processing construction, demolition and organic waste to produce repurposed materials. IPLiving is a purpose-led retirement living platform, and Energy Locals is an embedded networks platform that provides greener and more cost-effective energy network services to Australian residents and developers of multi-unit buildings.
In real estate, the investment team invested in the Wentworth Real Estate Private Equity Fund I (WREPEF I), also via the acquisition of secondary units in the fund. WREPEF I is an opportunistic Australian property fund that specialises in acquiring high-quality assets from motivated sellers at depressed prices. This fund currently holds nine real estate assets across Sydney and Melbourne, including office buildings, a life sciences complex and residential apartments. The WRAF investment team has chosen to obtain further exposure to an asset within WREPEF I, a landmark heritage-listed office building at 105 Miller Street in North Sydney, via a co-investment with Wentworth Capital. Cash that is held for liquidity purposes within WRAF will be invested in the Fortlake Real Income Fund (FRIF), which is a highly liquid fixed income strategy selected to maximise the returns generated on cash within the portfolio.
Looking ahead, the second co-investment with Wentworth Capital in the Novotel and Ibis hotel assets in Sydney’s Darling Harbour is expected to be finalised shortly. As WRAF’s fundraising efforts progress, the investment team will continue dynamic investment allocation, including scaling existing assets and transitioning towards diversification into other sectors, geographies and risk profiles such as Australian natural capital and global core infrastructure.
