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TWUSUPER
TWUSUPER was founded in 1984 as a not-for-profit superannuation fund serving members in Australia's transport and logistics industries. Former Independent...
TWUSUPER
TWUSUPER was founded in 1984 as a not-for-profit superannuation fund serving members in Australia's transport and logistics industries. Former Independent Chairman Nick Sherry and former CEO Frank Sandy led the fund through a period of strategic consolidation. The fund's identity was rooted in the union-aligned industry super movement, which in Australia denotes funds jointly governed by employer and union representatives. The fund's portfolio reflected a bias toward tangible assets with direct links to its membership base. Direct property holdings included the Woolworths Distribution Centre in Dandenong, Victoria, and the MidWest Logistics Hub in Truganina, Victoria. Fund commitments spanned industrial real estate through the Charter Hall Industrial Property Fund and mixed-use exposure via ISPT (Industry Super Property Trust). A dedicated transport infrastructure portfolio anchored the strategy in assets tied to the logistics sector the membership served. In early 2025, TWUSUPER merged with Mine Super, a fund serving Australia's mining workforce, to form Team Super, which launched on March 21, 2025. The merger created a combined entity with greater scale in a regulatory environment that has pushed smaller superannuation funds toward consolidation. Nick Sherry transitioned to Co-Chair of Team Super. TWUSUPER's operational independence ended with that merger, though its legacy portfolio was absorbed into the successor entity. TWUSUPER's structural differentiator was the anchor-tenant logic linking its portfolio to the industries employing its members. The fund owned logistics real estate that its own depositors used — a rare closed-loop relationship in institutional investing. This gave the property portfolio a built-in demand driver insulated from generic market cycles, a feature that distinguished TWUSUPER from sector-agnostic super funds of comparable size.
General information
Firm type
Pension Fund
Year founded
1984
AUM
Undisclosed
Location
Region
Oceania
Country
Australia
City
Melbourne
Corporate office
Melbourne, VIC, Australia
Principals
Nick Sherry
Former Independent Chairman
Frank Sandy
Former CEO
Sector focus
Frequently asked questions
What was the relationship between TWUSUPER and Team Super?
Team Super was the successor entity formed by the merger of TWUSUPER and Mine Super. The transaction closed on March 21, 2025, after regulatory approval. TWUSUPER contributed its transport and logistics industry membership base and its property and infrastructure portfolio, while Mine Super brought its mining sector membership. Former TWUSUPER Chairman Nick Sherry became Co-Chair of the combined entity.
What asset classes did TWUSUPER invest in?
TWUSUPER allocated to industrial real estate, transport infrastructure, and mixed-use property. Known direct holdings included the Woolworths Distribution Centre in Dandenong and the MidWest Logistics Hub in Truganina, both in Victoria. It also held interests in the Charter Hall Industrial Property Fund and ISPT, the Industry Super Property Trust.
Who ran TWUSUPER before the merger?
Nick Sherry served as Independent Chairman of TWUSUPER during its final years as an independent fund and transitioned to Co-Chair of Team Super after the merger. Frank Sandy was the CEO prior to the consolidation. The fund was governed under Australia's industry superannuation model, with joint representation from employer and union stakeholders in the transport and logistics sectors.
Why did TWUSUPER merge with Mine Super?
The merger responded to regulatory and competitive pressure on smaller Australian superannuation funds to achieve greater scale. The Australian Prudential Regulation Authority has signaled that funds with insufficient scale face sustainability challenges. By combining with Mine Super to form Team Super, TWUSUPER aimed to reduce per-member operating costs and improve its investment capability through a larger asset pool.
What was distinctive about TWUSUPER's real estate strategy?
TWUSUPER owned logistics and industrial property directly tied to the industries employing its members. Holdings like the Woolworths Distribution Centre and the MidWest Logistics Hub served transport and logistics operators, creating a closed-loop relationship where the fund's tenants were often connected to the same industry base providing its deposits. This gave the portfolio a structural demand driver atypical for a super fund of its size.
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