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Days after the $15bn pension approved a momentous change to the way it targets real assets, we zoom in on its involvements with timber and agri.
Two reports conclude transparency requirements are affecting the GP-LP dynamic and can be difficult to achieve.
The Canadian pension is looking to make more direct investments and find new investment partners in the Asia Pacific region.
Through its recent Investment Hub initiative, the sovereign wealth fund will not simply look for opportunities, it will look to create them by helping to strengthen New Zealand’s economic environment.
The $40m pledge is thought to be the first commitment to a global timber and farmland vehicle by South Korean investors.
Founder Stephen Johnston told Agri Investor that the manager has also raised C$60m for a separate open-ended vehicle targeting institutional investors with a buy-and-lease strategy focused on Canadian farmland.
Another institutional-scale asset has hit the market Down Under, expected to generate broad-ranging buyer interest and offers exceeding $40m.
Set to commit to its first three GPs, the state-backed institution is also investing FICA 3, the $117m latest vehicle of its agribusiness PE series.
The investment by an unnamed Canadian pension brings Fund IV’s total haul to C$130 million.
Capagro Innovation is majority-backed by institutional investors and already a third deployed.
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