Te Pūia Tāpapa

Overview

Te Pūia Tāpapa is a Māori investment fund representing 28 iwi and Māori entities in New Zealand. Established in 2018, it is the first large-scale iwi/Māori direct investment fund, aiming to protect, grow, and diversify its asset base with a long-term perspective. The fund's investors are based across various regions in New Zealand, including Te Tau Ihu, the lower North Island, Taranaki, the Central North Island, Bay of Plenty, Waikato, Pare Hauraki, Auckland, Northland, and Wharekauri (Chatham Islands). The fund focuses on private market transactions where it holds a competitive advantage due to its endowments, relationships, and heritage. It seeks significant and scalable opportunities that have long-term horizons and are supported by active, value-add governance approaches. The targeted investments typically involve commitments ranging from $10 million to $40 million, aiming for a 10-50% shareholding, with board representation or input. The fund emphasizes returns commensurate with risk, including an illiquidity premium, and prioritizes investments with good long-term prospects and capable management. Te Pūia Tāpapa has a strong track record of investments in New Zealand companies. Notable investments include TR Group, New Zealand's largest heavy vehicle rental and lease company; Avanti Finance, a leading non-bank lending institution; Awanui, the largest provider of pathology services; Evolution Healthcare, a provider of healthcare services; and Bluecurrent, a company offering large-scale data for electricity, gas, and water. These investments reflect the fund's commitment to supporting and growing significant New Zealand businesses across various sectors.