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The chair of a new $115 million Māori investment fund says it is a way to build long term wealth without the pressure of instant returns.
Paul Majurey says the 26 investors in Te Puia Tāpapa include not only iwi and hapu but also land trusts keen to diversify their portfolios.
The fund will be co-invest with major investors like the New Zealand Superannuation Fund and the Accident Compensation Corporation, giving it access to much larger deals that iwi could get on their own.
Some of Māoridom’s most experienced business people have been involved in pulling it together.
"Paul Quinn, Debbie Birch, Hinerangi Raumati and June McCabe were heavily involved to get to this point, going around the many hui around the motu, passing the message on about what this idea and concept was about, gaining the confidence and support of those groups that ultimately invested, and then buying into the concept of a very large scale Māori fund co-investing with leading NZ investment entities," Mr Majurey says.
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