Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


First Private Capital Offering Attracts $19.5M



New Zealand investors have committed $19.5 million to be invested in the country's first public offering in private capital.

The three month AMP Private Capital public offer closed to retail investors on Friday 17 March with committed funds of $19.5 million. The offer was extended by three weeks to close on 17 March after AMP's adviser network reported strong interest in February.

"We're delighted at the response to the offer," said Martin Turner, head of private capital for AMP Asset Management (AMPAM).

"While we were hoping to attract up to $25 million, it's important to remember that this asset class is new to the New Zealand market and with a minimum investment of $30,000, this wasn't for everyone."

"In addition to this, feedback from advisers and brokers has suggested that there may be sufficient demand to consider a second private capital retail tranche as more New Zealand investors become aware of the advantages of this asset class."

The funds raised in the offering will be invested alongside AMP Asset Management's own funds in a 10 year closed investment. The wholesale component of the offer will close on 17 April as scheduled. The monies raised will be invested in management buy- outs and expansion capital opportunities in private companies.

AMPAM commenced private capital operations in New Zealand a year ago. Since then they have invested over $80 million in eight successful transactions, the most recent being the management buy out/delisting of Donaghys Limited in January of this year.

These investments have made AMPAM New Zealand's largest private capital investment manager. Globally, AMPAM has been involved in private capital for over 35 years and currently manages NZ$8 billion committed to this asset class. It was also the recipient of the 1999/2000 IPAC Fund Manager of the Year Award.


© Scoop Media

Business Headlines | Sci-Tech Headlines


ScoopPro: Helping PR Professionals Get More Out Of Scoop has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>


Crown Accounts: Govt Books In Line With Forecasts

The Government’s financial statements for the four months to 31 October indicate the books are tracking along with Treasury’s Budget forecasts, Finance Minister Grant Robertson says. More>>


Expert Reaction: Ross Sea Region Marine Protected Area In Force

Sweeping new protections for Antarctica's Ross Sea will come into effect on Friday 1 December. After five years of debate, the marine protected area (MPA) was agreed in 2016 after a joint proposal by New Zealand and the United States... More>>