NZ Super fund approves $70m commitment

The New Zealand sovereign wealth fund has committed to a private equity fund.

Institution: New Zealand Superannuation Fund
Headquarters: 
Auckland, New Zealand
AUM: 
NZ$60 billion ($38.55 billion; €36.49 billion)
Allocation to alternatives:
3.00%

New Zealand Superannuation Fund has agreed to commit $70 million to Movac Growth 6 Fund, which is managed by Movac.

The investment continues NZ Super Fund’s ongoing relationship with Movac – the sovereign wealth fund also previously committed to Movac’s Funds IV and V.

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