KiwiSaver provider Simplicity says it has committed $20 million to the Aotearoa Pledge - which aims to raise $100m to address New Zealand's housing shortage.
The contribution is the largest to date and takes investment in the Aotearoa Pledge, which was established by impact investment platform Community Finance, to $71m.
Simplicity chief executive Sam Stubbs said KiwiSaver funds have a large-scale, long-term investment structure that is ideally suited to help build more homes on a mass scale for families and those in need.
The Community Finance model enables investment in housing projects through community bonds, which are issued to provide finance to leading community housing providers across New Zealand.