Case study

Te Pūia Tāpapa and the NZ Super Fund

In March 2018, the Fund signed a Memorandum of Understanding (MoU) with Te Pūia Tāpapa Fund, establishing a preferred partnership agreement.

Te Pūia Tāpapa was set up in late 2017 as a way for Iwi and Māori organisations to collectively and effectively invest together. The venture enables Iwi/Māori groups to pool resources in order to access large-scale, direct investment opportunities.

Developed as a partnership project by the Ministry of Business, Innovation and Employment, He kai kei aku ringa – the Crown- Māori Economic Partnership, Ngāti Awa Group Holdings Limited and the Fund, Te Pūia Tāpapa today comprises 48 iwi (the largest social units in New Zealand Māori society), Māori land incorporations and trusts, Te Tumu Paeroa (the Māori Trustee) and other Māori organisations. Over NZD115m has been committed.

Under the MoU, Te Pūia Tāpapa and the Fund have committed to a preferred partnership relationship to be conducted in a spirit of mahi tahi (working together), transparency and good faith. This will involve the formal sharing of ideas and collaboration in areas of mutual interest. The two funds are aligned in a number of important respects - through an intergenerational investment horizon and focus, as well as similarities in investment approach, including the exercise of kaitiakitanga (stewardship) over assets.

Since signing the MoU, the Te Pūia Tāpapa Fund has recruited an investment manager, four independent Investment Committee members and two independent Board directors, and confirmed its Chairs.

Working together with aligned people and groups will continue to be fundamental to our future success as a Fund. While there are various ways we can work collaboratively, Te Pūia Tāpapa is a new and exciting expression of mahi tahi as a basis for mutual commercial benefit. By coming together with compatible partners, Iwi/Māori investors and the Fund will have access to, and will seek to stimulate, opportunities that would not have existed otherwise.


Te Pūia Tāpapa investors gifted a carved stone to the Fund, signifying the beginning of a long and enduring relationship. A long-term investment horizon is a key source of commonality between the Funds and is reflected in the name "Te Pūia Tāpapa": a reference to a cluster of seed beds used to grow kūmara, symbolising the creation of a co-investment fund for better growth and returns.

Te Puia Tapapa large 

Front row (L – R): Tama Potaka, NZSF; Paul Quinn, Te Pūia Tāpapa GP Limited; Debbie Birch, Te Pūia Tāpapa GP Limited; Adrian Orr, NZSF; Hinerangi Raumati, Te Pūia Tāpapa GP Limited

Middle row (L- R): Paul Majurey, Te Pūia Tāpapa GP Limited; Stuart Allan, Te Pūia Tāpapa GP Limited; David Rae, Te Pūia Tāpapa GP Limited; Vanessa Eparaima, Te Pūia Tāpapa GP Limited; Cristina Billett, NZSF; Catherine Etheredge, NZSF; Rishab Sethi, NZSF

Back row (L – R): Sarah Owen, NZSF; Jamie Tuuta, Te Pūia Tāpapa GP Limited; Matt Whineray, NZSF; Andrew Harrison, Te Pūia Tāpapa GP Limited; Will Goodwin, NZSF; Mark Fennell, NZSF