New Zealand
Canada’s OPTrust opens Sydney office
Canada’s OPSEU Pension Trust (OPTrust) has opened an office in Sydney, to focus on infrastructure and private equity investment across Asia. This is its second base outside Canada.
New Zealand's Pencarrow acquires Bell Tea & Coffee
Pencarrow Private Equity has bought Bell Tea & Coffee Company (BTCC), New Zealand’s oldest tea enterprise, from supermarket chain Foodstuffs. Accident Compensation Corporation (ACC) is coming in as a significant co-investor, while BTCC’s senior management...
Australia's Catalyst exits EziBuy to Woolworths for $274m
Catalyst Investment Managers has exited Australia and New Zealand apparel and homeware retailer EziBuy to Woolworths for NZ$350 million ($274 million). The PE firm bought a 43% stake in EziBuy six years ago for an enterprise valuation of NZ$200 million,...
Creditors to assume control of New Zealand’s MediaWorks
MediaWorks Holdings, a new company owned by a consortium of lenders, including Oaktree Capital and TPG Capital, has signed a conditional sale and purchase agreement for the New Zealand broadcaster and its subsidiaries.
IFM takes 34% stake in NZ's Scottish Pacific
Australia's Industry Funds Management (IFM) has taken a 34% stake in New Zealand financial services company Scottish Pacific.
New Zealand's Pan Pacific, Taiwan to set up $40m cross-border fund
Taiwan’s state-run Institute for Information Industry (III) and New Zealand-based Pan Pacific Capital have formed a $40 million venture capital fund, with a view to promoting cross-border deals and expanding bilateral cooperation.
New Zealand’s Rangatira takes 12% stake in Magritek
New Zealand PE firm Rangatira has acquired a 12% stake in Magritek, which manufactures nuclear magnetic resonance (NMR) and magnetic resonance imaging (MRI) devices, for an undisclosed sum. It has the option of increasing its holding to 18% in a year.
Riverside buys controlling stake in NZ animal drug delivery group
Riverside has acquired a controlling interest in Hamilton-based animal drug delivery company Simcro for a undisclosed sum.
AMP Capital pays $409m for Powerco NZ stake
AMP Capital has agreed to buy 42% of Powerco NZ Holdings, New Zealand’s second largest electricity and gas distribution company, from Brookfield Infrastructure Partners for NZ$525 million ($409 million). It is investing on behalf of several clients...
NZ Super allocates $31m to Pioneer Capital
The New Zealand Superannuation Fund has committed NZ$40 million ($31 million) to the second fund of Auckland-based private equity firm Pioneer Capital Partners.
PE-owned MediaWorks New Zealand enters receivership
Creditors are poised to take control of Ironbridge Capital-owned MediaWorks as the New Zealand broadcaster and its subsidiaries went into receivership.
Bain-owned MYOB completes BankLink bolt-on
Bain Capital-owned accounting software firm MYOB has agreed to buy BankLink, an accounting services provider, from New Zealand-based Media Transfer Services. The private equity firm will contribute NZ$61 million ($50.6 million) in equity funding to support...
Quadrant-backed Summerset eyes Australia listing
Summerset, a New Zealand care home operator backed by Quadrant Private Equity, is seeking to list on the Australian Securities Exchange in response to increased interest from local investors.
VIDEO: Fiona Mackenzie of New Zealand Superannuation Fund
Emerging Asia will become a more significant part of New Zealand Superannuation Fund's private equity exposure, says Fiona Mackenzie, head of investments at the government-owned LP
Australia’s Anchorage closes Fund II at $260m hard cap
Australia-based special situations and turnaround specialist Anchorage Capital Partners has reached a first and final close on its second fund at the hard cap of A$250 million ($260 million). The vehicle, which came in oversubscribed, spent less than...
TPG plucks chicken deal
TPG nearly missed out on acquiring Inghams Enterprises. When the Bob Ingham, the 81-year-old owner of Australia's top chicken producer, put the company on the block for A$1.5 billion ($1.5 billion) last July, the private equity firm came in with an offer...
Quadrant trims stake in New Zealand retirement village chain
Quadrant Private Equity is to reduce its stake in New Zealand retirement village operator Summerset. The Australian firm plans to divest around a third of its 56% holding in the NZX-listed company, equivalent to around 400 million shares.
New Zealand's Pencarrow reaches final close of $101m on Fund IV
New Zealand-based GP Pencarrow Private Equity has reached a final close on its latest fund at NZ$124 million ($101 million).
Australasian mid-market sees strong deal flow – AVCJ Forum
Private equity investors see considerable upside in Australia and New Zealand’s lower and mid-market despite fewer large deals than before the global financial crisis. This usually involves taking cash-strapped family-run businesses and improving processes...
NZVIF receives $49m underwrite for new fund investments
New Zealand Venture Investment Fund (NZVIF), a venture capital fund-of-funds, will receive a NZ$60 million ($49 million) underwrite facility from the New Zealand government.
IREIFS allocates $500m for Australasian investments
Global boutique PE firm International Real Estate Investment & Financing Solutions Group (IREIFS) has allocated $500 million to invest in Australia and New Zealand.
Going walkabout: Australian outbound investment
Taking portfolio companies from Australia into Asia represents a major opportunity for private equity. Pan-regional funds see it as a key part of their strategy, but can domestic players join the party?
KKR, Allegro target Australia's ailing Geon
KKR and Allegro Funds have placed Australian commercial printing company Geon Group into administration and are looking to buy parts of the business out of receivership. The pair became creditors last year following the acquisition of a portfolio of distressed...
NZ Super appoints unlisted mandates manager
New Zealand Superannuation Fund has appointed Chris Jagger as manager with responsibility for unlisted mandates. He was most recently an investment director with Lloyds Development Capital in London and has previously worked at Future Fund, GI Partners,...