Word: kaingaroa
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...presence to the other side of the Charles River, it’s scaling back its investment on the other side of the globe. The Harvard Management Company (HMC), which steers the school’s $29.2 billion endowment, has sold a minority stake in its 468,000 acre Kaingaroa forest in New Zealand. The buyer is a fund established by the country’s national government to provide for its aging population. The New Zealand Superannuation Fund will acquire a stake of approximately $200 million from HMC, which has owned the forest estate since December 2003. The government...
...which manages Harvard’s $21.1-billion endowment, purchased three estates in New Zealand in 2003. The most recent acquisition—468,000 acres of the Kaingaroa forest—was made...
Last December, Harvard purchased the 468,000-acre parcel of the Kaingaroa forest in the center of the North Island from Tenon Ltd., a New Zealand-based corporation that focuses on wood processing, marketing and distribution of timber...
...Kaingaroa forest, situated in the middle of the North Island, lies along the ring of fire, a belt of volcanoes...
After over a year of bidding and negotiations, the Harvard Management Company (HMC) has finally closed a deal with New Zealand’s Central North Island Forestry Partnership, purchasing the 468,000-acre Kaingaroa forestry estate...