NZ Super backs climate solutions fund with $100m

The New Zealand sovereign wealth fund invests in Wellington Management’s first climate innovation fund.

Institution: New Zealand Superannuation Fund
Headquarters: 
Auckland, New Zealand
AUM: 
NZ$60 billion ($38.3 billion; €36.1 billion)
Allocation to alternatives: 
3.0%

New Zealand Superannuation Fund has agreed to commit $100 million to Wellington Climate Innovation Fund I, which is managed by Wellington Management.

The commitment to WCIF I follows similar investments in the Generation IM Sustainable Solutions Fund IV and Fifth Wall Early-Stage Climate Technology Fund. WCIF I will invest in venture capital and growth companies developing products and solutions for climate change mitigation across North America and Europe.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.