Aurora KiwiSaver targets private assets that support business growth

Sean Henaghan, chief investment officer with Christchurch-based Aurora, says a new mandate with Queenstown-based private credit manager Private Capital Group (PCG) is just the first cab off the rank when it comes to private asset allocation.

The $260 million Aurora KiwiSaver scheme could ultimately have a private asset weighting as high as 7-8% although corporate debt would make up no more than 4%.

Property-backed assets aren’t of interest, instead he’s targeting investment that grows New Zealand business.

“I want to look at venture capital especially in university research and climate innovation. I'm talking to Aussie funds but most have little NZ allocation. I want to support domestic New Zealand.”