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Māori investment fund hits the road

Te Pūia Tāpapa  – the $115.5 million fund established by 26 iwi and Māori entities – has made its first investment. It has partnered with the New Zealand Superannuation Fund and […]

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Te Pūia Tāpapa  – the $115.5 million fund established by 26 iwi and Māori entities – has made its first investment.

It has partnered with the New Zealand Superannuation Fund and Direct Capital to buy a 31 percent stake in heavy vehicle fleet leasing business TR Group for an undisclosed sum.

Chair Paul Majurey says TR Group is the market leader in heavy vehicle fleet leasing and rental with a fleet of over 5,700 trucks, trailers and buses, and 12 branches in Aotearoa.

He says transport and logistics is a fast-growing sector, and that growth is likely to continue as New Zealand’s ageing truck fleet comes up for replacement with lower-carbon alternatives.

Direct Capital will manage the investment on behalf of the other two investors.

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  • Radio Waatea is Auckland’s only Māori radio station that provides an extensive bi-lingual broadcast to its listeners. Based at Ngā Whare Waatea marae in Māngere, it is located in the middle of the biggest Māori population in Aotearoa.

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    Radio Waatea is Auckland’s only Māori radio station that provides an extensive bi-lingual broadcast to its listeners. Based at Nga Whare Waatea marae in Mangere, it is located in the middle of the biggest Māori population in Aotearoa.