MinterEllisonRuddWatts has advised Zealandia on the successful raising of approximately $500 million across Zealandia Fund I LP and Te Aka Haumi LP, marking a significant milestone for private investment in New Zealand's social infrastructure sector.
Zealandia focuses on investing in critical infrastructure assets that drive economic growth and deliver long-term value for investors and communities. Its initial portfolio includes interests in Transmission Gully, the Pūhoi to Warkworth motorway and (in respect of Zealandia Fund I LP only) Auckland South Corrections Facility.
MinterEllisonRuddWatts Corporate Partner Isaac Stewart, who led the transaction, said the successful fund raise highlights growing investor confidence in New Zealand infrastructure assets and the role private capital can play in supporting the country's long-term infrastructure needs.
"This transaction represents an important milestone for Zealandia and demonstrates the strong interest among New Zealand institutional investors for high-quality infrastructure investments. We are proud to have supported Zealandia on this significant capital raise and the establishment of a platform that will contribute to the development and ownership of essential national infrastructure by New Zealanders,” said Isaac Stewart.
"It also highlights the increasingly important role that iwi investors and KiwiSaver funds are playing in funding New Zealand's infrastructure pipeline. As demand for investment in critical infrastructure continues, domestic capital pools are becoming a significant part of the funding solution.
"Zealandia is a fantastic example of a home-grown New Zealand fund successfully competing alongside global investors for ownership of strategic infrastructure assets, while ensuring investment returns remain connected to New Zealand investors and communities."
The transaction involved advising on the establishment and fundraising of Zealandia Fund I LP and Te Aka Haumi LP, alongside advising on the acquisition of seed investments and the co-investment arrangements between the funds.
Isaac Stewart led the firm’s team, which included partners Jeremy Muir, Natasha Hood, Tom Fail and Solicitor Nick Stewart.
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