The Western Bay of Plenty is home to billions of dollars in locally anchored capital, supporting everything from major infrastructure and economic development to housing, community facilities and charitable causes. Together, four organisations are helping create lasting value across the region. 

When we think about the things that drive regional prosperity, businesses, infrastructure, skills, investment and population growth readily come to mind. But the Western Bay of Plenty has another significant asset that doesn’t appear in conventional measures of economic performance: generations of accumulated capital dedicated to the future of our region and its communities. 

“The Western Bay is unusually fortunate to have significant pools of locally anchored capital working on its behalf,” says Dave Courtney, Priority One CEO. “From major economic assets and infrastructure to community facilities, housing, environmental projects, social services, rates relief, scholarships and grassroots charities – millions of dollars are being returned to our communities each year.” 

Four organisations illustrate the breadth of this ecosystem: Quayside Holdings, Manawa Trust, BayTrust and the Acorn Foundation. They all have different origins, ownership structures and purposes, but together they demonstrate something powerful: capital created today can continue generating benefits for future generations. 

“Taken together, these organisations represent billions of dollars in assets and tens of millions of dollars in annual distributions, helping fund everything from major infrastructure and economic development to housing, community facilities and charitable causes,” says Dave. 

“Most importantly, intergenerational funds can operate with a horizon that extends well beyond an individual project, annual budget or electoral cycle. Their underlying capital can be invested and protected so that the decisions of one generation continue to create opportunities for those that follow.” 

Four organisations building a shared legacy  

The largest of the funds is Quayside Holdings, custodian of the Bay of Plenty’s intergenerational investment fund and majority shareholder in Port of Tauranga. Its investments extend beyond the Port into a diversified investment portfolio and regional assets including Tauranga Crossing, Panorama Towers and Rangiuru Business Park.  

For the year ended 30 June 2026, Quayside reported total assets of $3.9 billion, up 25 per cent, with net assets of $3.5 billion and group profit after tax of $198.4 million. It paid dividends of $54.2 million to Bay of Plenty Regional Council. Quayside also continues to service the Perpetual Preference Share (PPS) scheme established in 2007, which provided $200 million for Council to invest in regional projects, including the University of Waikato campus in Tauranga, the Ōpōtiki Harbour development, and the Rotorua Museum. Dividends paid to PPS holders totalled $9 million in 2026, bringing total distributions for the year to $63.2 million. 

If Quayside demonstrates the economic and infrastructure dimensions of long-term regional wealth, Manawa Trust illustrates how an investment fund can build the social and physical infrastructure of a community. 

Formerly TECT Community Trust, the organisation became Manawa Trust on 25 September 2026, building on more than 30 years of investment in Western Bay of Plenty communities. Its purpose encompasses the people, places and opportunities that help the Western Bay thrive, while protecting and growing its community investment fund over the long term.  

For 2026/27, Manawa lists grants available across five funds: Community Development $8.1m, Community Facilities $6.1m; Community Events $2.1m, Catalyst for Change $6.7m; and Facilities of Regional Significance $18.6m. 

BayTrust adds another dimension. Its investments enable ongoing distributions to Bay of Plenty communities, with current priorities encompassing kaitiakitanga, community wellbeing, Tū Māori Mai, and healthy, secure and affordable housing. Its model seeks to protect and grow its capital base so it can continue supporting Bay of Plenty communities over the long term. 

And then there is the Acorn Foundation, which represents perhaps the most personal form of intergenerational capital. Rather than stemming from the ownership or sale of major regional assets, Acorn’s capital has been built through the generosity of individuals, families, trusts, businesses and community organisations. Donations can be invested in perpetuity, where income is distributed year after year, or can be provided for near-term needs, all of which go to causes important to Acorn’s donors. Today, Acorn has more than 530 donor funds and says it has gifted more than $32m since 2003. 

In 2026, it announced a record $6.2m distribution to more than 280 organisations and community groups, supporting needs including food security, mental health and wellbeing, youth development, elder support, education, disability services, environmental care, arts and culture, and support for migrant communities.  

Despite their different mandates, these organisations do not operate in isolation. Acorn, BayTrust and TECT, now Manawa Trust, have collaborated with Tauranga City Council and Western Bay of Plenty District Council on community event funding, illustrating how different forms of regional funding can work together. 

The numbers tell the story

The figures below illustrate the scale of this ecosystem. Each organisation has its own structure, geography, beneficiaries and mandate, but these numbers reveal the depth and diversity of capital available for different parts of regional life.

This story is part one of a series – the next stories will offer further insight into each of these four organisations. 

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