Zealandia raises NZ$500M for New Zealand infrastructure funds
What's the deal? ZealandiaDealroom has a profile for this one. Try Dealroom → has raised approximately NZ$500 million across two vehicles, Zealandia Fund I LPDealroom has a profile for this one. Try Dealroom → and Te Aka Haumi LPDealroom has a profile for this one. Try Dealroom →, to invest in New Zealand's social and critical infrastructure. Law firm MinterEllisonRuddWattsDealroom has a profile for this one. Try Dealroom → advised on the raise, announced August 27, 2026.
What's the endgame? Zealandia targets infrastructure assets that drive economic growth and deliver long-term returns. Its initial portfolio includes interests in Transmission Gully, the Pūhoi to Warkworth motorway, and — for Zealandia Fund I LP only — the Auckland South Corrections Facility.
Who backed it? Iwi investors and KiwiSaver funds featured prominently among the backers, alongside New Zealand institutional investors.
Why now? Domestic capital pools are becoming central to funding New Zealand's infrastructure pipeline as demand for investment in critical assets rises. Corporate partner Isaac Stewart, who led the transaction, said the raise shows "the strong interest among New Zealand institutional investors for high-quality infrastructure investments."
The mandate covered establishing and raising both funds, acquiring seed investments, and structuring co-investment arrangements between the vehicles.
The signal: Zealandia is a home-grown fund competing with global investors for strategic New Zealand infrastructure while keeping returns tied to local investors and communities. As Stewart put it, "domestic capital pools are becoming a significant part of the funding solution."
Read more: minterellison.co.nz
Image credit: Archives New Zealand
