A new process for capital investment in tertiary institutions will be overseen by a panel that includes sector experts, Tertiary Education Minister Pete Hodgson announced today.

The Minister has appointed David Shand, Chair of the Tertiary Education Commission's Board of Commissioners, to chair the new Tertiary Education Capital Investment Fund Panel.

Mr Shand will be joined by TEC Commissioner Robin Hapi, Rex Williams (a university sector nominee), Anne Hare (an institute of technology and polytechnic sector nominee), and Graham Smith (a w�nanga sector nominee). Appointments to the Panel are for three years. The Ministerial appointment of three specialists to the Panel remains to be made.

"These five members bring a breadth and depth of experience across the public and private sectors. This experience ensures the Panel will be well-placed to oversee the applications to the Capital Fund," Pete Hodgson said.

The Capital Fund was announced in Budget 2008, with $95 million of new capital investment in tertiary education institutions.

"The new Capital Fund process is more transparent and orderly than the current system because it introduces a contestable annual process to capital investments," Pete Hodgson said.

The newly appointed members of the Panel convene on 17 November 2008.

The remaining specialist positions will be filled by the end of 2008, by specialists whose skills complement those of the five members announced today.