Palgrove will expand research and development under the new partnership.
Queensland and NSW Charolais stud Palgrove has entered a new partnership with the New Zealand Superannuation Fund (NZSF).
Palgrove co-principal Prue Bondfield said the partnership gave the Palgrove business the capacity to grow its cattle numbers to meet increasing demand from clients.
“It will also enable us to accelerate genetic development, particularly within our Ultrablack programme and expand our R & D across all of our enterprise,” Mrs Bondfield said.
“Nothing will change in the day to day operation of the Palgrove business. NZSF has the appropriate level of understanding of agricultural investing; a commitment to long term investment horizons and a high standard of governance, responsible investing and operating sustainably.
“These strengths will make them a valued partner.”
Mrs Bondfield said Palgrove and NZSF were excited about prospects for the beef industry.
“We will continue to strive for excellence in everything we do and the business will look to grow its current operations and evaluate new opportunities as they arise,” she said.
“Our business has been built on strong customer service, quality seedstock and relationships and we look forward to strengthening those relationships with both new and existing clients.”
