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NZ-based Māori fund acquires 4% stake in Asia Pacific Health Group
Photo by Louis Reed on Unsplash
February 7, 2021
New Zealand-based The Māori direct investment fund, Te Pūia Tāpapa (TPT), has picked up a 4% stake in Asia Pacific Health Group (APHG), the largest human and veterinary pathology network operator in the country.
TPT has purchased the stake from New Zealand Superannuation Fund (NZ Super Fund) and Canada-based Ontario Teachers’ Pension Plan Board (Ontario Teachers’), according to a statement on Friday.
Following the deal, both pension funds will each retain a 48% stake in the pathology network operator.
“There are enormous changes happening in the health sector, with a focus on improving Maori health outcomes. As co-investors, we believe we can add significant value to APHG by deepening its understanding and ability to deliver for Māori communities across Aotearoa,” said TPT Chair Paul Majurey.