NZ Super Fund targets to invest up to $115m in data centres

Image of Auckland, New Zealand from the sea

NZ Super Fund, the NZ$41-billion New Zealand sovereign wealth fund, has announced that it will invest up to $115 million in North American data centre by co-investing alongside CIM Group, a real estate and infrastructure owner and operator.

CIM Group will be acting as an external fund manager for the investments on behalf of the NZ Super Fund.

Part of the investment will include access to CIM Group’s existing portfolio of six data centres, owned through joint ventures with CIM’s managed vehicles and its future data centre transactions.

“Data centres offer strong infrastructure-like returns underpinned by exponential growth in digital data,” Del Hart, NZ Super Fund head of external investments and partnerships.

“We are seeing increasing customer demand for offsite data centres as enterprises either shift data management to third party providers or move to the cloud. Furthermore, by 2021, data volumes are expected to be nearly three times 2016 levels,” said Hart.

With the investment, NZ Super Fund is targeting to be engaged in leasing the data center facilities and infrastructure located across North America in San Francisco, Toronto, Orangeburg, Chicago and Cheyenne.

The Fund also has a 39 per cent investment in New Zealand information technology company Datacom, which has a network of data centres in New Zealand and Australia.

The NZ Super Fund, established to help pre-fund universal pension, has returned 10.1 per cent per annum since inception in 2003.

Also Read:

NZ Super Fund adds $4b, beats expectations with 12.4% annual return

NZ Super Fund posts 20.7% returns backed by global equity rally, active investment strategies

NZ Super Fund appoints new manager for equities mandate

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.