NZ Super Fund looks to offload North Island forests; Kaingaroa talks stall

Wed, 17 Oct 2012

By Paul McBeth Oct. 17 (BusinessDesk) - The New Zealand Superannuation Fund, which was set up to pre-fund baby boomers' pension liabilities, is in talks to sell a group of North Island forests, though negotiations to buy-out Harvard University's endowment fund stake in the Central North Island Kaingaroa forest have stalled. The Cullen Fund, so-called for its architect former Finance Minister Michael Cullen, had 11 forest estates valued at some $91.1 million available for sale as at June 30, according to its annual report. The fund sought off...

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