Ngāpuhi investment fund Tupu Tonu buys into Northport for regional growth

Tupu Tonu, the investment arm of Ngāphui, has bought into Northport.

Ngāpuhi investment fund Tupu Tonu is set to acquire a stake in the company that owns Northport, the deep-water commercial port at Marsden Point near Whangārei.

The fund plans to purchase a 7% share in Marsden Maritime Holdings, which owns and operates the port.

This investment marks a strategic move by Tupu Tonu to expand its portfolio and strengthen its role in regional infrastructure and is part of a wider consortium that includes the Ports of Tauranga and the Northland Regional Council.

Ben Dalton says Tupu Tonu is taking a major stake in Marsden Maritime Holdings.

Tupu Tonu chief executive Ben Dalton said it is a major step forward for the investment fund.

“It’s one of the major infrastructures, along with the power companies, in the North,” Dalton said.

“If you want to be a 21st-century iwi moving forward, then surely you’d want to own a percentage of the infrastructure that we all depend on.”

“Somebody’s going to buy it; why shouldn’t it be an iwi from the North?”

Te Poupouwhenua Iwi have long been fighting for control over the wharf.

In 2021, Northport’s application to extend the wharf into Whangārei Harbour was rejected.

According to Whangārei Council commissioners at the time, the proposal would be detrimental to the environment and would also disrupt Patuharakeke’s shellfish harvesting activities.

Green MP Hūhana Lyndon in 2023. Photo / Michael Cunningham

Green MP Hūhana Lyndon is concerned that hapū such as Patuharakeke and Te Parawhau will continue to be left without rights.

But Dalton said that the partnership with the landowners in this area will be strengthened, and he says that this will ultimately benefit the landowners.

“I can’t talk about what’s already happened, but I have a meeting coming up with Patuharakeke and then, separately, with Te Parawhau,” Dalton said.

“There are downstream benefits that the local iwi can be a part of.”

Investment to boost the region

Started in 2020, Tupu Tonu was designed to build long-term wealth for Ngāpuhi and invest in assets that contribute to regional development.

The fund operates independently and focuses on commercial investments that align with the iwi’s economic aspirations.

According to figures, port operations contribute $440 million in value-added economic activity annually, with port operations contributing approximately $40m to the regional GDP. Dalton says investment in Northport is a no-brainer for Ngāpuhi.

“The comparison to the economic growth of our relations in the Bay of Plenty and other parts of the country – if you compare that to where we are in the North – it’s a chasm.”