News
Pencarrow IV Fund closes at $124 million
Friday, 15 March 2013 00:00
Pencarrow Private Equity has raised a $124 million fund – its fourth and largest fund – to invest into privately owned New Zealand companies.
The Pencarrow IV Fund completed its final close with committed capital of $124 million. It includesa cornerstone $30 million commitment from the New Zealand Superannuation Fund, alongside investment from a range of other New Zealand institutions and private investors.
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Private Equity Investment Supports Half A Million Jobs
Thursday, 14 March 2013 16:53
New research shows that Australian companies backed by private equity support an estimated half a million jobs.
This was one of the findings of the Deloitte Access Economics report The Economic Contribution of Private Equity in Australia, released by the Australian Private Equity and Venture Capital Association Ltd (AVCAL) today.
The study is based on data for 106 companies acquired by private equity since FY2000. This data was provided by AVCAL members representing approximately 70% of total private equity funds under management in Australia.
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$30 million technology fund open for business
Thursday, 14 March 2013 00:00
Some of the biggest names in the local technology scene have joined forces to raise just under $20 million at new fund Blackbird Ventures. About 35 technology entrepreneurs including Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar, Business Catalyst's Bardia Housman and Leigh Jasper and Rob Phillpot, the co-founders of Melbourne construction software outfit Aconex have contributed to the fund's first close.
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KiwiSaver funds big property buy
Tuesday, 12 March 2013 09:38
KiwiSaver's swelling coffers have prompted a local fund manager to buy a big Auckland office block from a European owner - and more such deals are being predicted.
Tower Investments chief executive Sam Stubbs said the Tower Property Fund bought the 6279sq m, five-level URS Centre at 13-15 College Hill Rd, in Auckland's city fringe, from a German property syndicate for $23.6 million, making it one of this year's larger deals.
Inghams chicken company sold for A$880m
Tuesday, 12 March 2013 09:36
Family-owned chicken company Inghams has been sold to a private equity firm.
The 95-year-old business, which was advertised for sale in July, was sold to TPG Capital for about A$880 million. The sole shareholder was the grandson of its Sydney founder, Bob Ingham.
The poultry company's sale includes factories, farms and a distribution network throughout New Zealand and Australia.
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