Thursday, February 22, 2024

Roc partners to buy slice of NZL assets

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Australian investment manager will acquire quarter of rural land holdings.
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Australia-based specialist private markets investment manager Roc Partners is to acquire 25% of the portfolio of rural land assets of New Zealand Rural Land Company for about $44 million.

NZL owns 14,487 hectares of high-quality New Zealand rural land which is 100% tenanted on long-term leases. It generates shareholder value through asset value appreciation and cash flows from its long-term leases which have regular CPI adjustment provisions – NZL is not involved in the day-to-day operations of its farm and forestry assets.

Roc Partners is a specialist private markets investment manager. It manages capital for some of Australia’s largest institutions and superannuation funds and offers investment solutions for family offices, foundations, endowments and high net worth investors globally.

NZL chair Rob Campbell said “the decision by a specialised investor of Roc Partners’ standing to purchase a stake in NZL’s rural land assets is an important milestone in NZL’s long-term growth strategy”.

“This transaction reflects the strong alignment of two partners with deep experience investing in high quality rural assets” he said.

“Upon completion NZL will fully review allocation of the funds. NZL and Roc will work together on future growth opportunities.”

Brad Mytton, managing partner for agriculture at Roc Partners, said that Roc Partners brings more than 25 years’ experience in private asset investment to NZL.

“Our expertise in, and focus on, agricultural assets within our Real Assets portfolio is industry leading,” he said.

“We are attracted by the quality of NZL’s individual assets, its commitment to sustainability, and the long-term potential for accessing quality rural land assets in New Zealand.  

“NZL enjoys advantaged access to rural deal flow, and we expect a fruitful ongoing investment relationship. We are committed and hold ourselves and our investees to the same high standards in the actions we take to transition to a more sustainable economy.”

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