<article>New Zealand-based global investment fund, <a href="https://www.dealstreetasia.com/?s=NZ%20Super Fund">NZ Super Fund</a>, has invested $65 million in <a href="https://www.dealstreetasia.com/?s=Rubicon%20Global">Rubicon Global</a>, a US-based provider of technology-driven waste and recycling solutions for businesses.</article>

New Zealand-based global investment fund, <a href="https://www.dealstreetasia.com/?s=NZ%20Super Fund">NZ Super Fund</a>, has invested $65 million in <a href="https://www.dealstreetasia.com/?s=Rubicon%20Global">Rubicon Global</a>, a US-based provider of technology-driven waste and recycling solutions for businesses.
In a statement, NZ Super Fund said its investment in Rubicon Global aligns with its strategy to identify investments that have the potential to benefit from the global transition to a low-carbon economy.
&#8220;Rubicon, which aims to divert waste from landfills and reduce greenhouse gas emissions, has strong sustainability credentials and complements our climate change investment risk strategy,” Mark Fennell, the NZ Super Fund’s Acting Chief Investment Officer, said.
Headquartered in Atlanta, Rubicon utilises cloud-based technology to connect companies to a network of independent waste haulers.
“Rubicon Global was founded on a bold idea: to disrupt the waste and recycling industry and create less expensive, more sustainable solutions,” the company says on its website.
A report released by Allied Market Research showed that the global waste management market is expected to grow from $285 billion in 2016 to $435 billion by 2021.
The investment in Rubicon raises NZ Super Fund’s expansion capital investments to about 2 per cent of its portfolio.
It also has direct investments in fuel cell manufacturer Bloom Energy, dynamic glass manufacturer View Inc, and waste-to-energy company LanzaTech.
In New Zealand, NZ Super Fund has supported a large number of small and medium-sized high growth companies via external managers Direct Capital, Pioneer Capital, Pencarrow, Waterman Capital and Movac.
“It’s pleasing to be able to leverage our timeframe, scale, and diversification to support growth companies such as Rubicon that, while established from a technology point of view, are pre-IPO,&#8221; Fennell said.
A long-term growth-oriented investor, the $38-billion NZ Super Fund posted an annual return of 19.8 per cent for the year ended December 2017 with total assets surging to NZ$37.9 billion ($27.8 billion) amid an overweight value of growth assets or equities, an investment segment that the fund is heavily skewed towards.
While the portfolio gains for the year are significantly higher over 2016 (13.2 per cent), there was also a word of caution from NZ Super which released its returns in February. The fund has said that the bright returns over the past period in the “teens and twenties” may not persist and are set to “normalise” from next year.
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The investment in Rubicon raises NZ Super Fund’s expansion capital investments to about 2 per cent of its portfolio.

NZ Super invests $65m in cloud-based waste solutions firm Rubicon

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NZ Super invests $65m in cloud-based waste solutions firm Rubicon

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