CORRECT: NZ Super Fund to invest in $300M local hotel venture

Mon, 15 Jul 2019

(fixes headline and first sentence reference to hotel portfolio value. Adds new second sentence) By Victoria Young July 15 (BusinessDesk) - New Zealand’s $42 billion Superannuation Fund will invest into a $300 million portfolio of hotels owned by local firms, as it eyes further exposure to tourism. The investment into the portfolio is phased and the fund won't say how much has been put in so far. The deal for a hotel portfolio with Russell Group and Lockwood Property Group includes two Auckland hotels, one in Christchurch and agreemen...

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