A foreign-owned forestry company has bought up more than 77,000 hectares of forests in just four years to become the third largest landowner in New Zealand.
Australia-based New Forests Asset Management runs several investment funds here through several subsidiaries.
RNZ journalist Kate Newton has been investigating who owns New Zealand for several months.
She says the speed at which New Forests amassed the land is astonishing.
“They have gone from owning nothing in 2015, as far as we can tell, to now owning 77 and a half thousand hectares. they had an Overseas Investment Office approval just go through last month to buy another piece of land,” Newton says.
New Forests calls itself a “sustainable real assets investment manager offering leading-edge strategies in forestry, land management, and conservation”.
It has more than $5 billion Australian in assets under management globally with investments in Australia, New Zealand, US and Southeast Asia.
Photo credit: rnz.co.nz