Iwi team up to invest long term
|10 Nov 2017 15:09 PM|
More than 35 iwi, pan-tribal organisations, Maori land trusts and Maori incorporations are set to commit up to $100 million to a proposed Iwi/Maori Direct Investment Fund.
The fund has been developed as a partnership project by the Ministry of Business, Innovation and Employment, the Crown-Maori Economic Partnership He kai kei aku ringa, Ngati Awa Group Holdings and the NZ Super Fund.
It’s intended to help Maori groups diversify their portfolios and access larger scale direct investment opportunities than they can achieve on an individual basis.
Paul Quinn from Ngati Awa Group Holdings, which has made an indicative commitment of $5 million, says reaching the $100 million milestone shows Iwi/Maori organisations want to work together for the long-term economic wellbeing of their people and New Zealand more broadly.
Other groups who have made indicative commitments include several Tuwharetoa organisations aggregating together as a single investor, Te Tumu Paeroa, and various Taranaki iwi entities.
The fund will have a 15 to 20 year investment horizon with an appointed board and manager, and a separate, independent, investment committee.