$150m investment fund created in bid to restore relationship with Ngāpuhi

A $150 million investment fund is being created to grow assets for Treaty negotiations with Ngāpuhi, with the Government calling it a “significant step” in attempts to restore its relationship with the iwi.

The new Crown company, Ngāpuhi Investment Fund Limited, aims to build and grow assets that could be offered in negotiations with ngā hapū o Ngāpuhi.

Treaty of Waitangi Negotiations Minister Andrew Little said the fund was created so there was more options for Ngāpuhi in future negotiations.

“It will help ensure that ngā hapū do not miss out on opportunities for investment while they work towards negotiations.

Ngāpuhi is the country's largest iwi, but has not reached a settlement with the Crown.

In 2019 the Government said it would no longer recognise the 2014 mandate of Tūhoronuku to negotiate the Ngāpuhi settlement as it sought a more localised approach. 

Some hapū had said those appointed to Tūhoronuku did not represent them. 

“The Fund sends a clear signal of our intention to seek to meet the aspirations of ngā hapū o Ngāpuhi for redress for their people and their rohe (region), when they are ready,” Little said.

It can invest in New Zealand assets including land-based businesses and financial assets. Part of the revenue from the fund could be used for social development and buildings for Ngāpuhi.

“This is a very significant development,” Little said. "This is about acknowledging we're serious."

Little said the main point of the fund was to accumulate value so the iwi would not be losing the benefit of not having yet come to an agreement. 

On an agreement, Little said that "doing it right is absolutely vital". 

"I'd rather be taking time to do that right."

“The scale of the Fund will allow it to build a base of assets throughout the rohe and beyond that may not otherwise be available for the Crown to offer, and provides a boost in investment for Te Tai Tokerau.”

Sir Brian Roche, who is currently chief Crown negotiator for Ngāpuhi, was appointed as the establishment chair the Ngāpuhi Investment Fund, with Ripeka Evans (Ngāpuhi, Ngāti Porou, Te Aupōuri, Ngāti Kahu) as deputy chair.

“The Fund sends a clear signal of our intention to seek to meet the aspirations of ngā hapū o Ngāpuhi for redress for their people and their rohe, when they are ready,” Little said.