New Zealand companies are set to benefit from a new $100 million Maori investment fund.
It has taken a year of negotiations for 35 Maori iwi and organisations to agree to pool their money to create the fund.
The aim of the Maori Direct Investment Fund is to further diversify their portfolios and access larger scale direct investment opportunities than they can achieve on an individual basis.
One of those driving the scheme is Paul Quinn from Ng膩ti Awa Group Holdings.
He said many of the iwi groups have investments with equity funds and it just made sense to create a fund of their own for large scale investments.
"It has taken some time for iwi groups to get comfort with the concept and the idea. This is aimed at large scale activities and opportunities as to opposed regional rohe of a particular iwi."
New Zealand Super Fund spokesman Tama Potaka said the Maori fund has indicated where it wants to invest.
"There may be some allocation to non-New Zealand business but the preference is to invest in New Zealand, and to co-invest with the likes of NZ Super and others in New Zealand businesses
Take your Radio, Podcasts and Music with you
Get the iHeart App
Get more of the radio, music and podcasts you love with the FREE iHeartRadio app. Scan the QR code to download now.
Download from the app stores
Stream unlimited music, thousands of radio stations and podcasts all in one app. iHeartRadio is easy to use and all FREE
