New Zealand

New Zealand’s sovereign wealth fund is aiming to increase its ag weighting to 3% of its assets and is increasingly looking offshore to achieve this, following its first move into Australia in 2017.

We catch up with New Forests chief executive David Brand as the firm starts to deploy its A$873m third fund dedicated to the region.

Managing director Daniel Master says the TIAA affiliate grew the company by expanding in Latin America and argues the dairy cycle has yet to peak.

New Zealand’s sovereign wealth fund has namechecked its 42% stake in Kaingaroa Timberlands as a strong performer in FY18.

The Brisbane-based firm, which was part of a failed Chinese-led bid for S Kidman & Co, has seen ‘continuing interest’ from investors in unlisted assets.

The NZ Overseas Investment Office has cleared the sale of Nelson Forests to OneFortyOne Plantations, a deal that was first agreed in December 2017.

The trans-Tasman manager has sealed the two final deals funded through the vehicle by purchasing two assets from The Rohatyn Group.

Suggested changes include a $214m investment into Campbell Global’s Australian subsidiary and an expanded remit that could comprise New Zealand and Chile.

Founder Nick Rohatyn and partner Eva Greger tell Agri Investor how the firm plans to bank on its experience in emerging markets to expand its agricultural and forestry footprint.

Agri’s potential for non-correlated cash generation and a push into sustainable investment mean the asset class could pass a tipping point next year, according to Insight’s Detlef Schoen.