Russell McVeagh has advised Milford on its $100 million cornerstone investment in Zealandia, supporting greater investment in essential infrastructure assets across New Zealand.
Milford's commitment will help connect New Zealanders' KiwiSaver capital with infrastructure investment opportunities through Zealandia, a New Zealand infrastructure investment platform established to invest in public-private partnership assets that help build and maintain critical infrastructure nationwide. Zealandia's initial portfolio includes interests in Transmission Gully, the Pūhoi to Warkworth motorway, and Auckland South Corrections Facility.
The investment highlights the increasingly important role private capital can play in supporting New Zealand's long-term infrastructure needs and enabling investment in nationally significant assets. Milford's investment will initially deploy approximately $30 million from KiwiSaver and investment fund capital, with the balance available for future investments over a five-year period.
Partner Tom Gillespie, who led the transaction alongside partners Bevan Peachey and Ben Paterson, and solicitor Kirsten Purdie, said:
"This investment reflects Milford's commitment to providing investors with greater access to long-term infrastructure opportunities, while supporting the development of essential infrastructure across New Zealand. We are proud to have advised Milford on a transaction that helps connect New Zealand capital with assets that will contribute to the country's long-term growth and prosperity."
The Russell McVeagh team advised Milford on all aspects of its investment in Zealandia.
Congratulations to Milford, Zealandia and everyone involved in reaching this milestone.