The NZ Superannuation Fund has agreed the sale of its investments in 5 offshore private equity real estate funds to investment funds advised by affiliates of Partners Group AG, a global private markets investment manager listed in Switzerland and serving 850 institutional investors.
The investments which have been sold are Orion European Real Estate Fund III, Mountgrange Real Estate Opportunity Fund, MoREOF (Parallel I) Unit Trust, Red Fort India Real Estate Fund II & Gateway Capital Real Estate Fund III.
NZ Super Fund head of investments Fiona Mackenzie said: “While private equity real estate has been a profitable part of the fund’s portfolio, these were relatively small investments and the move to sell them is consistent with our strategy to have fewer, deeper relationships with our investment managers.”
The sale price is confidential. None of the funds sold included New Zealand assets.
Attribution: Fund release.