| The New Zealand Superannuation Fund (NZ Super Fund), the country’s NZ$27 billion (US$20.93 billion) sovereign wealth fund (SWF), is to acquire retirement housing provider RetireAustralia for A$640.2 million (US$521.16 million) via a joint venture (JV). The JV is 50% owned by NZ Super Fund and 50% by infrastructure firm Infratil, and each will stump up A$214.8 million in cash equity for the purchase, with the balance funded by existing bank debt on RetireAustralia’s balance sheet.
According to a presentation document released by NZ Super Fund to investors, the purchase will be made from JP Morgan Global Special Opportunities Group and Morgan Stanley Real Estate Investing. The acquisition will fall under NZ Super Fund’s private equity investments.............................................Full Article: Source
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