Big backers include HESTA Super Fund, Future Super and the philanthropic arm of Coopers Brewery.
It took Social Ventures Australia 17 months to tee up the project, which will house 600 of Adelaide’s chronically homeless.
Investors will get returns of up to 8.5 percent per year if the program hits milestones for permanent housing and employment.
Similar programs are in the works in Melbourne and Queensland.
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Photo credit: ABC Australia