New Zealand Superannuation Fund, Auckland, invested $100 million in a global macro hedge fund strategy and committed $150 million to two venture capital funds, a spokesman confirmed.
The NZ$60 billion ($37.6 billion) sovereign wealth fund in March invested $100 million in London-based investment manager Episteme Capital's flagship strategy, Systematic Quest Total Return.
The macro investment strategy uses a mix of fundamental, technical, and liquidity methods in liquid futures and foreign exchange forward markets, the fund wrote in its latest newsletter May 17.
The investment marks the first time NZ Super has invested in Episteme Capital and fits into the sovereign wealth fund's global macro approach alongside incumbent managers Bridgewater Associates and Citadel, the newsletter wrote.
"We expect global macro strategies to be market neutral, producing uncorrelated return over the course of market cycles," it said.
The fund also made a $150 million commitment to venture capital firm Columbia Capital. It committed $50 million to Columbia Capital Equity Partners VIII and $100 million to Columbia Capital Opportunities Fund I.
Both funds focus on the communication and technology sector, specifically on digital infrastructure, enterprise technology and mobility companies. Both focus on the U.S. market, the spokesman said.
NZ Super has invested in the firm before, having previously invested NZ$147 million in Columbia Spectrum Partners IV-A, he said.