New Zealand's Pencarrow closes Fund V at $176m
New Zealand-based Pencarrow Private Equity has reached a first and final close of NZ$250 million ($176 million) for its fifth fund after eight weeks on the market. It had targeted a corpus of NZ$200 million.
Fund V represents a substantial increase on its predecessor which closed at NZ$124 million in 2013 after a 17-month fundraise. LPs in the latest vehicle are predominantly domestic institutions, including...
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