NZ SF exits PE

The New Zealand Superannuation Fund says it has sold its investments in three offshore private equity funds: Hellman & Friedman VII, JMI Equity Fund VII and H.I.G Bayside Loan Opportunities Fund II.

Fiona Mackenzie, head of investments, said the investments were some of the smaller ones in the Fund and the move to sell them is consistent with its strategy to have fewer, deeper relationships with its investment managers. “It is also pleasing to be able to realise gains from a part of the Fund’s portfolio that has performed strongly in recent years,” she added.