A new fund manager wants to partner with others to help build local infrastructure and comes armed with a $300 million commitment from majority owner Accident Compensation Corporation (ACC) for its first fund to start doing exactly that.
But investment commentator Sam Stubbs says Public Private Partnerships (PPP)s, like this arrangement, are like relationships – and can go bad.
Zealandia, an infrastructure investment fund established in June last year, launched Fund 1 last week with $300m cornerstone investment kicked in from ACC, and will have an associated iwi-only fund, Te Aka Haumi. Both funds will invest in significant domestic infrastructure projects delivered by PPPs.
