It has recently been reported that Canada’s PSIB has made a substantial investment, or to put it more accurately, an increase in its holdings in New Zealand company Kaingaroa Timberlands. The majority of the assets of KT are tied up with the Kaingaroa forest which is located in the central region of New Zealand’s North Island. Included in the portfolio are a nursery, log yard and processing plant. The forest comprises of 189,000 hectares. PSIB now have a controlling stake in KT which analysts believe could account to near $700m. All of this was purchased for a pension fund.