New Zealand Super cuts manager roster
The New Zealand state retirement fund has divested its holdings in five property strategies as part of a plan to have fewer, deeper relationships with external asset managers.
The New Zealand Superannuation Fund has made the second in what is likely to be a series of private-market divestments aimed at consolidating its base of external managers.
The state institution said yesterday that it had agreed the sale of investments in five offshore private equity real estate funds to investors advised by affiliates of Partners Group, a private markets asset manager based in Switzerland.
NZ Super has now divested nine of its 46 incumbent managers since July. …
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