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New Zealand Superannuation Fund Sells 2.5% Stake of Kaingaroa Timberlands to Iwi

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The New Zealand Superannuation Fund (NZSF) has sold a 2.5% stake in Kaingaroa Timberlands, New Zealand’s largest forestry business, to six central North Island iwi. Effectively, the NZSF reduces its forest business stake from 41.25% to 38.75%. Other institutional investors in Kaingaroa Timberlands include Canada’s Public Sector Pension Investment Board and the Harvard Management Company, the manager of Harvard University’s endowment. The six iwi representative organizations, Ngati Rangitihi, Ngati Whakaue Assets and Te Arawa River Iwi Limited Partnership, Ngati Whare, Raukawa, Te Arawa Group Holdings Limited and Tuwharetoa, have formed Kakano Investment Limited Partnership to acquire and hold the stake.

An iwi is a social unit in Māori culture.

In 2008, in the biggest Treaty settlement to date, the Crown returned 176,000 hectares of land to the central North island iwi. 90% of Kaingaroa Timberlands tree crop is on returned land.

The CEO of the New Zealand Superannuation Fund (NZSF) mentioned in a press release that there is a strategic benefit for the landowners of the forest to have a stake in Kaingaroa Timberlands.

Blackstone Defeated on Investa Office Fund Bid

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The Blackstone Group threw in the towel on a bid to take over the Investa Office Fund, a vehicle that owns prized Australian office properties. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek’s Bond Expected to Lure Retail Investors

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Singapore’s Temasek Holdings, through its subsidiary Temasek Financial (IV) Private Limited, is planning a 5-year bond that aims to yield 2.7% for retail investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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QIA Becomes the Largest Shareholder in Colonial

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The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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