After spending an estimated $100 million creating one of the world's best golf courses in New Zealand, American billionaire Ric Kayne plans to spend a further $50m-plus developing two new public courses north of Auckland.
Kayne and world-class golf course designer, Tom Doak, developed the private links-style, invitation-only Tara Iti course near Mangawhai, 80 minutes north of Auckland. This is where former US president Barack Obama played last March with former prime minister Sir John Key.
Now Kayne has more plans afoot for the 764ha block of land next to and south of Tara Iti. He wants to lease the land for more than a century from the Ngāti Manuhiri iwi and proposes that 200 hectares goes to Auckland Council to extend existing reserve areas, having already gifted 200 hectares of land at Tara Iti as a reserve.
He also wants to create visitor accommodation, a clubhouse, 60 luxury home sites, a public camping ground and a retail centre along with surfing shops.
Having graduated with a statistics degree from Stanford University, followed by an MBA from UCLA, Kayne began his career as a broker’s analyst before branching out on his own. He co-founded the Los Angeles investment firm of Kayne Anderson Capital Advisors, which manages assets worth $US26 billion.
Through the Kayne Foundation, Kayne and his family support a range of causes including education reform and the Jewish community. The family’s Santa Monica residence backs on to the Riviera Country Club and the Kaynes travel the world by private jet and luxury yacht.
Granted New Zealand residency in 2015 under the Investor Plus category, Kayne says he and his wife Suzanne “fell in love with this country at first sight, and that commitment only grows deeper with time.”
2018: $1.8 billion
Rawdon Christie was talking to Ric Kayne in July 2019.