Direct Capital IV Introduction

Introduction Direct Capital is currently raising its fourth private equity fund Direct Capital IV, Direct Capital IV will focus investment of capital on established businesses operating in the mid-market in both New Zealand and Australia with strong growth opportunities and the ability to generate sustainable positive cash flows. This will be achieved with an emphasis on succession buy-outs, expansion capital, private placements and pre-IPO transactions. Direct Capital IV will focus on the mid cap market (typically making investments between NZ$10m – NZ$60m), a market that represents the core New Zealand economy. The investment focus for Direct Capital IV is consistent with that of Direct Capital III, targeting investment into companies with enterprise values of between $20 million and $150 million. Fundraising for Direct Capital IV will close on 31 December 2009.