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UniSuper undertakes largest direct equity investment
Big academic fund UniSuper has lifted its alternative investments exposure, with the acquisition of a 15 per cent stake in the New Zealand forestry assets of Carter Holt Harvey.
UniSuper chief investment officer David St John described the transaction as the fund’s largest direct equity investment to date.
He said the interest had been acquired through UniSuper’s participation in the consortium led by Hancock Timber Resource Group and comprised of approximately 200,000 hectares of timberland and forestry rights located across the central North Island, the Northland region and the Nelson region.
UniSuper already has experience in forestry investment in New Zealand, having made an acquisition in the central North Island in June 2004.
St John said the investment offered attractive risk adjusted returns underpinned by highly productive plantations and the favourable location of the estates relative to major forest products, processors, ports and established infrastructure.
AUTHOR
Mike Taylor
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