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

 


Sentinel raises $20million of equity from QUADRANT

Press Release:
17 March 2006


Sentinel, the home equity release specialist group, has raised $20million of equity from Australian private equity firm, QUADRANT Private Equity.

The group, which includes Sentinel in New Zealand, Australian Seniors Finance in Australia, and Seniors Money in Ireland has raised the capital to fund international expansion plans.

Richard Coon, Group Managing Director, said “We have ambitious expansion plans which envisage two or three new country launches each year. These will normally be done in conjunction with local distribution partners. Our proven business model including comprehensive funding and reassurance arrangements means we can launch into a new country very rapidly with the right partner.
This new equity almost doubles the group’s capital to $44million and gives us a very strong base for both existing and new markets.”

Sentinel is New Zealand’s leading provider of home equity release loans, with Sentinel’s Lifetime Loan currently accounting for 94% of the domestic market.* Internationally, home equity release loans have been an increasingly accepted solution to retirement funding. The New Zealand market is now also growing rapidly.

Chris Hadley, Managing Director of QUADRANT said “We are delighted to be able to invest in Sentinel. We know the management well from being one of the early investors in Sovereign, which was a great success for the QUADRANT Funds.

We have looked closely at the home equity release market and believe it has tremendous potential worldwide.”

ENDS

*Datamonitor Report: Reverse Mortgages in Australia and New Zealand 2005 Ref Code DMFS1807

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news