NZSF in Discussions with Harvard Over Purchase of Kaingaroa Forest
02. May, 2012
According to the press release, “The New Zealand Superannuation Fund confirmed today that it and global investment firm GMO Renewable Resources were in discussions with Harvard Management Company over the possible purchase of Harvard’s majority stake in the Kaingaroa forest estate.
Harvard currently holds a 60% stake in Kaingaroa, an estate of approximately 170,000 hectares of harvesting rights to plantation forest located in the Central North Island of New Zealand.
The Fund already owns a 40% stake in Kaingaroa.
Forestry management will continue on a business-as-usual basis by Timberlands Limited. Until discussions are concluded the parties will not be making any further comment.”
Read more: Press Release
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