A LEADING Canadian pension fund is among prospective buyers of StraitNZ’s Cook Strait ferry operations and extended transport interests, according to business media.
The Australian Financial Review and NZ’s National Business Review have reported banks appointed by StraitNZ owners Morgan Stanley Infrastructure Partners are now actively seeking buyers for the company, which included the two-ship Bluebridge ro-pax ferry services between Wellington and Picton, as well as freight forwarding and linehaul operations on land, including 220 vehicles and multiple depots.
Rothschild is leading sale efforts, according to AFR, with MSIP looking for $1 billion for the enterprise.
The AFR names Canada’s Ontario Teachers’ Pension Plan as having appointed Macquarie Capital to prepare a bid, while another Canadian investor, Northleaf Capital Partners, has been “making inquiries”.
Other bidders are expected, including Igneo Infrastructure Partners which completed the buy-out of Bass Strait/Tasmanian operator Strait Link earlier this year, ironically, having outbid MSIP. Strait Link was put up for sale in August 2025 with reported price expectations of up to $500 million. The eventual price paid has not been disclosed.
OTPP – not to be confused with Auriga owner OPTrust (Ontario Public Sector Pension Fund) – already has some NZ investments, including a mobile phone tower network.
MSIP has owned StraitNz for four years, having acquired it from Australia’s Champ Private Equity Group in 2022 for a reported NZ$500 million. Prior to this Champ had bought the-then Strait Shipping and separate sister companies from the founding Barker family in 2016 and consolidated under the StraitNZ brand.
The Bluebridge operation has grown market share in recent years and is now claimed to have >60% of the Cook Strait freight business and >40% of the passenger market, against KiwiRail’s Interisland Line.