Milford has committed $100 million to Zealandia as a major investment that will help connect New Zealanders’ KiwiSaver capital with infrastructure investment across the country.

This cornerstone commitment reinforces Milford’s drive to provide investors greater access to long-term infrastructure assets and the benefits they can provide, while helping fund the building blocks of New Zealand’s future prosperity.

Zealandia was established in 2025 to invest in public-private partnership assets that help build and maintain essential infrastructure across New Zealand.

The fund’s initial portfolio includes interests in the Transmission Gully motorway, the Pūhoi to Warkworth motorway and Auckland South Corrections Facility. 

Milford is a cornerstone investor in Zealandia Fund I, alongside ACC, and is the exclusive KiwiSaver provider partner.

“New Zealand’s infrastructure needs are well understood, and partnerships like this demonstrate the meaningful role private capital can play in supporting them," Milford Chief Investment Officer Wayne Gentle says.

Max Harrison, an Investment Director who joined Milford earlier this year with a focus on private markets and real assets, said infrastructure can provide an attractive combination of long-term income, inflation-linked revenues and diversification benefits for investors.

As part of the investment, Milford will be actively involved through Harrison’s role on Zealandia’s Limited Partners Advisory Committee, giving Milford certain oversight powers and approval rights. Milford will also regularly engage with Zealandia Management, allowing oversight of the investment process and overall management of the Zealandia Fund.