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


Pencarrow Fund adds capital for growth businesses

Pencarrow Fund adds capital for growth businesses

Pencarrow Private Equity has raised a $124 million fund – its fourth and largest fund – to invest into privately owned New Zealand companies.

NZVCA Executive Director Colin McKinnon said “the announcement was welcome news for the private equity market. Pencarrow IV Fund adds $124 million to the pool of capital available to medium sized New Zealand companies looking to grow their business.

“Private equity is fuel for economic growth and innovation that helps to create jobs and employ Kiwis across the country. In New Zealand, for the period 1994 to 2012, $1.36 billion invested in New Zealand based firms returned $2.85 billion for investors, a 2.1 times cash multiple return that is comparable to the international experience.

The private equity industry has invested in over seven hundred New Zealand companies over the last 10 years.

“Pencarrow IV Fund investors, including New Zealand Superannuation Fund, will gain access to management buyouts, succession deals and expansion capital opportunities among privately held companies in the mid-market segment in New Zealand.

McKinnon said that “Pencarrow Private Equity is long-established private equity manager and a Founding Partner of NZVCA.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


Provincial Growth Fund: Backing Growth In Gore

“Today’s announcements are a $1.6 million investment towards the Maruawai precinct project, which involves the redevelopment of the Hokonui Moonshine Museum and creation of the Maruawai Heritage Centre...” More>>


Inflation: Cigarette Price Rise Offsets Cheaper Petrol

The consumers price index (CPI) rose 0.1 percent in the March 2019 quarter, due to higher prices for cigarettes, Stats NZ said today... In the year to March 2019, the inflation rate was 1.5 percent, down from 1.9 percent in the December 2018 year. More>>


Government Suppliers: MBIE Reinstates Fuji Xerox As A

The government has reinstated Fuji Xerox as a supplier despite an ongoing Serious Fraud Office investigation into accounting irregularities that led to losses of more than $300 million. More>>


PSI: Service Sector Growth At Lowest Level Since 2012

April 15 (BusinessDesk) - New Zealand’s services sector activity grew at its slowest pace in more than six years in March, potentially signalling a slowdown in the domestic economy. More>>