Overseas investment decision for case 202100103 - KH Aggregator LP

The Applicant will acquire an indirect interest in CP Auckland GP Limited and CP Auckland LP (the NZ Business). The Vendor and the Applicant have established a limited partnership to facilitate the transaction. This is an international transaction occurring upstream of the Vendor’s subsidiary in New Zealand. The Vendor is part of KKR & Co. Inc, a global investment firm managing asset classes including private equity, energy, infrastructure, real estate, credit, and hedge funds.

The Applicant is a Delaware Limited Partnership, managed by Whitehorse Liquidity Partners Inc, a private equity manager in the business of providing structured liquidity solutions to private equity portfolios. 

The NZ Business holds a commercial office park on approx. 6.2 hectares at 666 Great South Road, Greenlane, Auckland, known as ‘Central Park’, home to approximately 60 different tenants spread across 11 office buildings. This land is not sensitive land under the Act.

The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicant has also demonstrated financial commitment to the investment. This transaction required a mandatory national interest assessment under s20A of the Act because the Applicant is ultimately owned by several non-New Zealand government investors that will, in aggregate, have a more than 25% ownership interest.