Z Energy is 50% owned by the New Zealand Superannuation Fund and 50% owned by Infratil.
The Government-owned New Zealand Superannuation Fund aims to smooth the tax burden of the rising cost of New Zealand Superannuation, by investing money today to pay for superannuation entitlements in the future.
Withdrawals from the Fund are not scheduled to begin until 2029/30. This means that the Fund has a longterm investment horizon, and is focused on maximising its growth to benefit future generations.
At the end of March 2012 the Fund had NZ$19.46 billion in assets, including its stake in Z Energy.
Infratil is a New Zealand infrastructure investment company listed on the NZX and ASX.
Infratil owns businesses that operate in the energy and transport sectors, predominantly in New Zealand and Australia: TrustPower (in partnership with Tauranga Energy Consumers Trust), Infratil Energy Australia/Lumo, Perth Energy, Wellington Airport (in partnership with Wellington City), NZ Bus and Z Energy (in partnership with the New Zealand Superannuation Fund).
Infratil is a long term investor that creates value for its shareholders by creating value for the people who use its facilities and services and by having its businesses well regarded by the communities in which they operate.