The New Zealand Superannuation Fund isn't concerned that US fuel cell maker Bloom Energy is trading below what the Kiwi pension fund paid for its 2.4 percent stake, saying it's a long-term investor.
On the move in the New Zealand political economy this week:
The New Zealand Superannuation Fund hasn't decided on what to do with its stake in US fuel cell maker Bloom Energy, which yesterday signalled plans to go public.
Peter Dunne writes in his inaugural column for Newsroom about how the NZ Super Fund's bid to build Auckland light rail lines has finally realised Norman Kirk's vision of pension fund capital building local infrastructure. Now today’s Labour Party should embrace it too, he argues.
Here's my read on the eight things that mattered in the political economy over the last week.
The news that mattered this morning
The Super Fund's bid to build and own Auckland's light rail lines is a political gift for Labour, but disguises a potentially expensive money-go-round between state-owned entities.
The Government could roll out public private partnerships to fund infrastructure projects across Auckland and Wellington, Transport Minister Phil Twyford and Finance Minister Grant Robertson said today after the surprise launch of a plan for light rail lines in Auckland that could be funded by a New Zealand Superannuation Fund-led consortium.
The New Zealand Superannuation Fund and Canadian fund manager CDPQ Infra have made an unsolicited bid to build and operate two lines in the proposed Auckland light rail, which are already getting $1.8 billion of seed investment.
Transport Minister Phil Twyford and Finance Minister Grant Robertson have announced the Cabinet has agreed to launch a procurement process to build two light rail lines from the Auckland CBD to the airport and North West Auckland.