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NZSF Guardians appoint first manager and make first farm purchase under Rural Land Strategy

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According to the press release, “The Guardians of New Zealand Superannuation have today announced the appointment of FarmRight as an investment manager and the acquisition of a dairy property in West Otago as the first concrete steps in executing their Rural Land strategy.

The dairy property is in West Otago – approximately 100km west of Dunedin – and the Guardians are the sole, 100% purchaser.  FarmRight is an independent dairy-farming management and consultancy company with offices in Lumsden, Lincoln and Otorohanga.  FarmRight’s portfolio contains 42 dairy farms covering more than 12,000ha and 34,000 cows.  The Guardians’ General Manager, Investments, Matt Whineray, said that FarmRight had been appointed as a manager under the Rural Land Strategy because of its experience, track record; and its strengths in risk management and in adding investment value through making operational improvements to dairy farms.

“We have appointed FarmRight after an extensive due diligence process, which included assessments of their ability to manage, among other things, profitable pasture-based farming systems, costs, health and safety, animal welfare, environmental compliance, and financial budgeting and reporting to the standard we require,” Mr Whineray said.

The Guardians of New Zealand Superannuation have today announced the appointment of FarmRight as an investment manager and the acquisition of a dairy property in West Otago as the first concrete steps in executing their Rural Land strategy.  The dairy property is in West Otago – approximately 100km west of Dunedin – and the Guardians are the sole, 100% purchaser.  FarmRight is an independent dairy-farming management and consultancy company with offices in Lumsden, Lincoln and Otorohanga.  FarmRight’s portfolio contains 42 dairy farms covering more than 12,000ha and 34,000 cows.

The Guardians’ General Manager, Investments, Matt Whineray, said that FarmRight had been appointed as a manager under the Rural Land Strategy because of its experience, track record; and its strengths in risk management and in adding investment value through making operational improvements to dairy farms.

“We have appointed FarmRight after an extensive due diligence process, which included assessments of their ability to manage, among other things, profitable pasture-based farming systems, costs, health and safety, animal welfare, environmental compliance, and financial budgeting and reporting to the standard we require,” Mr Whineray said.”

Source: NZSF Press Release

HFF Finds a New Home in Jones Lang LaSalle

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Jones Lang LaSalle Incorporated (JLL) inked a deal to acquire Dallas-based HFF, Inc. JLL will acquire all the outstanding shares of HFF in a cash and stock transaction with an equity value of approximately US$ 2 billion. The transaction has been unanimously approved by the boards of directors of both companies. Mark Gibson, CEO of HFF, will join JLL as CEO, Capital Markets, Americas and Co-Chair of its Global Capital Markets Board. The transaction is expected to close in the third quarter of 2019, subject to HFF shareholder approval and customary closing conditions, including regulatory review.

Transaction Details

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IFM, Polish Development Fund, PSA Acquire Gdansk Terminal

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The Polish Development Fund, known locally as Polski Fundusz Rozwoju S.A. (PFR), signed a deal to lead an investor group to acquire the largest container terminal in Gdansk from an infrastructure fund managed by Macquarie. The transaction is worth more than 5 billion zlotys (US$ 1.3 billion). DCT Gdansk is the only terminal in Baltic sea region that can serve Ultra Large Container Vessels, also known as UCLVs.

The Polish Development Fund and IFM Investors will each acquire a 30% stake in the Gdansk terminal, while PSA International Pte Ltd (which is owned by Temasek Holdings), will own 40% of the terminal.

Macquarie was advised by Goldman Sachs.

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Williams and CPPIB Create $3.8 Billion Venture in the Marcellus and Utica Basins

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Tulsa-based Williams Companies Inc. (Williams) disclosed a series of transactions that will establish a new platform for the optimization of its midstream operations in the western Marcellus and Utica basins through a long-term partnership with Canada Pension Plan Investment Board (CPPIB). This deal gives CPPIB more exposure to the North American natural gas market.

CPPIB Investment

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