| Decision | Consent granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 12 March 2025 |
| Pathway | Significant business assets only |
| Investment | Acquisition of 100% of the business and assets of HPS Partners Investment Holdings, LLC and HPS Group Adviser Holdings, L.P. |
| Asset value | $120,400,000 |
| Applicant | BlackRock Saturn Subco, LLC United States of America 64% Middle East Region 19% Asia Pacific Region 6% Various 11% |
| Vendors | HPS Partners Investment Holdings, LLC and HPS Group Adviser Holdings, L.P. United States of America 98% Cayman Islands 2% |
| Background | BlackRock Saturn Subco, LLC is a company incorporated in the United States of America specifically for the proposed investment. BlackRock Saturn Subco, LLC is a wholly owned subsidiary of BlackRock Inc, an investment company publicly traded on the New York Stock Exchange. BlackRock Saturn Subco, LLC intends to merge two of its wholly owned subsidiaries with HPS Partners Investment Holdings, LLC and HPS Group Adviser Holdings, L.P. respectively. The two entities are part of HPS, a New York based global investment firm which manages and advises several investment funds. One of the funds will hold indirect ownership in a company with a New Zealand subsidiary, Ando Insurance Group Limited. Consent was granted as the Applicants have met the investor test criterion. |
| More information | Glenn Shewan Bell Gully (Auckland) PO Box 4199 AUCKLAND 1140 |
The assessment report for this decision was published as part of an Official Information Act release:
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