The NZD 13.1 billion sovereign wealth fund has selected Hamilton Lane to advise it on its private equity investment strategy, due diligence and private equity manager selection. New Zealand Superannuation Fund is a private equity investor with a global portfolio, having previously invested in funds focusing on North America, Europe, Asia and emerging markets. It invests in buyout, fund of funds and secondaries vehicles. Private equity managers with which New Zealand Superannuation Fund has previously invested include Adams Street Partners, Apax Partners, Coller Capital and HarbourVest Partners.
Similar to a number of other sovereign wealth funds, this appointment is an indication of New Zealand Superannuation Fund having increased its interest in private equity. The fund currently has less than 1.5% of its assets under management invested in private equity and has a target of 5%, which Hamilton Lane will help it to achieve. New Zealand Superannuation Fund is known to have already made investments in private equity thus far in 2009.
Established in 2002, New Zealand Superannuation Fund is designed to partially provide for the future cost of the New Zealand Superannuation and will receive NZD 1.5 billion per year on average from the New Zealand government over the next decade and a half. It is expected to grow to NZD 120 billion by 2026.
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