NZ Super Fund writes off investment in US wind turbine company Ogin

Thu, 20 Apr 2017

By Paul McBeth April 21 (BusinessDesk) - The New Zealand Superannuation Fund has completely written off the value of its investment in US wind turbine company Ogin which is in the process of being wound down. The Super Fund invested US$55 million in Massachusetts-based Ogin in 2013 to give the US start-up capital to develop new products before going public, of which US$25 million was debt and US$30 million was equity. Those plans didn't come to fruition and after Ogin failed to raise more capital last year, the Super Fund wrote down the...

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