Our Managers

A complete list of the Fund’s asset and investment managers (both those appointed by us and those who manage funds in which the Fund is invested) is published each year in our Annual Report. This list includes the value of the amount invested with each manager as at 30 June, and the percentage each mandate makes up of the total NZ Super Fund.

On this page we provide a current summary of our external manager relationships.


NZ Super Fund External Managers

Managers appointed since 1 July 2019

Year appointed

Fund name and focus areas
Hillwood2019 US Industrial Club V - North American real estateUnlisted
Robeco2019Custom Index - multi-factor equitiesListed
The Carlyle Group2019Diversified life and non-life insurance strategiesUnlisted

Mandates closed since 1 July 2019

Year appointed

Fund name and focus areas
LSV Asset Management 2005 Segregated mandate - emerging markets equities Listed

Incumbent managers as at 30 June 2019

Year appointed

Fund name and focus areas

Adams Street Partners2007Adams Street Partnership Fund - 2007 Non-U.S. Fund - buyout, funds of fundsUnlisted
Apollo Global Management LLC2014Financial Credit Investment II - US life settlementsUnlisted
2017Financial Credit Investment III - US life settlementsUnlisted
AQR Capital Management, LLC2009CNH Convertible Arbitrage Fund - a diverse convertible arbitrage fundListed
2016Segregated mandate - multi-factor equitiesListed
Ascribe Securities (formerly American Securities)2010American Securities Opportunity Fund II - distressed creditUnlisted
Bain Capital (formerly Sankaty Advisors)2013Sankaty Credit Opportunities V Europe - distressed creditUnlisted
BlackRock Financial Management2016Global Merger Partners LLC - merger arbitrageListed
BlackRock Investment Management UK 2010 Segregated mandate - passive global fixed incomeListed
2013 Segregated mandate - passive global equitiesListed
Bridgewater Associates2006Bridgewater Pure Alpha Fund II, Limited - global macroListed
Canyon Capital Advisors2010Canyon Distressed Opportunities Fund (Delaware) - distressed creditUnlisted
2016Canyon NZSF DOF - distress credit managed accountUnlisted
CIM2019North American Data Centre Portfolio Co-Investor, LLC – US & Canadian real estateUnlisted
CITP2011China Infrastructure Partners  - companies primarily engaged in the development, ownership or operation of infrastructure-related investments in ChinaUnlisted
Coller Investment Management2007Coller International Partners V Fund - global private equity secondariesListed
Devon Funds Management2011Segregated mandate - New Zealand active equitiesListed
Direct Capital   2005Direct Capital Partners III - New Zealand expansion capitalUnlisted
2009Direct Capital Partners IV - New Zealand expansion capitalUnlisted
2014George H Limited co-investmentListed and Unlisted
2016Direct Capital Partners Fund V - New Zealand expansion capitalUnlisted
Elementum Advisers2010Segregated mandate - natural catastrophe reinsuranceUnlisted
FarmRight2010Rural land in New ZealandUnlisted
Global Forest Partners  2009 & 2012AIF Properties - Australian TimberUnlisted
2010Global Timber Investors 9 - timber assets in New Zealand, Australia, Asia, Africa and South AmericaUnlisted
2007Global Timber Investors 8 - timber assets in Australia, New Zealand and South AmericaUnlisted
HarbourVest Partners2006HarbourVest International Private Equity Partnership V Fund - buyout, funds of fundsUnlisted
H.R.L. Morrison & Co  2006Global infrastructure mandate, which includes our investment in Retire AustraliaBoth
2009Public Infrastructure Partners Fund - social infrastructure such as educational and healthcare facilities, and student accommodation Unlisted 
Kohlberg Kravis Roberts (KKR)  2007KKR Asian Fund - Asian private equityUnlisted
2008KKR 2006 Fund - global private equityUnlisted
2014KKR Energy Income and Growth Fund (EIGF) and private equity investments in North American natural gas exploration and production, midstream, downstream and/or energy infrastructure and servicesUnlisted
Leadenhall Capital Partners2013Natural catastrophe reinsuranceUnlisted
LSV Asset Management2005Segregated mandate - emerging markets equitiesListed
Mint Asset Management2015Segregated mandate - New Zealand active equitiesListed
Movac2016Movac Fund 4 LP - New Zealand expansion capitalUnlisted
Neuberger Berman2018Neuberger Berman Principal Strategies Merger Fund (NZSF), LP - merger arbitrageListed  
Northern Trust2013Segregated mandate - passive global equitiesListed
2015Segregated mandate - passive global fixed incomeListed
2015Passive emerging markets equitiesListed
2016Segregated mandate - multi-factor equitiesListed
Pencarrow Private Equity 2011Pencarrow IV Investment Fund - small and mid-market New Zealand businessesUnlisted
Pioneer Capital Partners2013Pioneer Capital Partners II - New Zealand expansion capital
2016Pioneer Capital Partners Fund III - New Zealand expansion capitalUnlisted
State Street Global Advisors2009Segregated mandate - passive global listed equitiesListed
Waterman Capital2010Waterman Fund II - small and mid-market New Zealand businessesUnlisted
Willis Bond & Co2010Willis Bond Institutional Partners - private equity real estate in New ZealandUnlisted