NZVCA welcomes Super investment in Pencarrow Fund

3 November 2011

Media release

NZVCA welcomes New Zealand Super investment in Pencarrow Fund

The Guardians of New Zealand Superannuation have confirmed that they have committed $30 million to the Pencarrow IV Investment Fund LP.

NZVCA Executive Director Colin McKinnon said “the announcement was welcome news for the private equity market. New Zealand Superannuation Fund continued commitment to New Zealand private equity funds provides growth and expansion capital to privately-owned small to mid-market New Zealand businesses with sound commercial prospects and quality management teams.

“Mid market private equity investment levels have continued growth trends in the first half of 2011 driven by a small number of relatively high value deals. The large deals reflect the ongoing deployment of recently raised capital by New Zealand domiciled PE funds.

“Pencarrow Private Equity is New Zealand’s longest established private equity manager. Since 1993, Pencarrow has been making and managing private equity investments in businesses in New Zealand. They have invested more than $225 million in 25 companies.

McKinnon said that “Pencarrow are founding sponsors of the NZVCA helping to build a world best private capital market in New Zealand.”

ENDS

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