Tim McCready, NZ Herald: Late last year, Direct Capital raised its fifth private equity fund in New Zealand. Since it began in 1994, the firm has raised $1.2 billion, with its latest $375 million fund coming almost exclusively from existing investors in just two months.

Liam Dann, NZ Herald: Private equity investor Direct Capital is on the hunt for acquisitions after raising $375 million for its latest fund.

Despite private equity typically being associated with high-net worth investors, every New Zealander will have a stake in the buying decisions founder Ross George and his team make.

This capital, like much of the $1.2 billion the company has raised since it started in 1994, has come from New Zealand's biggest institutional investors, George said.

Leading private company investor Direct Capital is on the lookout for new investment opportunities, following the successful close of its most recent fund, Direct Capital V.

The $375 million committed to Direct Capital V means Direct Capital has raised $1.2 billion to invest on behalf of its institutional clients since the company was established in 1994.

Following a successful bookbuild process, the world’s largest aquaculture producer of King salmon today (23 September) lodged its Product Disclosure Statement (“PDS”) for an initial public offer of 69.2 million ordinary shares (the “Offer”). 

$30.0 million in new capital is being sought to repay debt, to fund future investment and for working capital.

Initial public offers put up by private equity firms generally attract a fair degree of scepticism, but the doubters have been proven wrong in Scales Corporation's case.

Scales, the apple grower, logistics and coolstores firm, has seen its share price rally from $1.74 a year ago to close at $3.30 yesterday - a 89.7 per cent gain.

Direct Capital, through its Direct Capital III and Pohutukawa I funds, today announced that it has completed the sale of its shareholding in New Zealand Pharmaceuticals (NZP).

Direct Capital today announced that it had completed the sale of its shareholding in Transaction Services Group (TSG), a New Zealand based global payment provider. US based Calera Capital will acquire Direct Capital’s shares in the business with TSG Chairman Murray Bolton and TSG management also re-investing in the company.

Cavalier Wool Holdings (CWH) is pleased with today’s release by the Commerce Commission of its draft determination in respect of the proposed merger between CWH and the scouring subsidiaries of New Zealand Wool Services International.

The proposed merger will consolidate the New Zealand wool scouring industry; right-sizing it to meet current wool volumes and ensure an efficient and world-class scouring industry is retained in New Zealand. 

Premium New Zealand Ora King salmon has been recognized as one of the world’s most sustainable.

Following a year-long assessment process, a report released today (Feb. 16) by Monterey Bay Aquarium’s globally respected consumer guide Seafood Watch® has rated New Zealand’s marine-farmed salmon, including Ora King salmon, as “Green”, meaning it is a “Best Choice” for consumers.

PF Olsen had the honour to be involved in the recent visit of Chinese President XiJinping to New Zealand. PF Olsen's involvement was two-fold. In one capacity, Peter Clark (PF Olsen's CEO) attended a NZ China Council meeting with President Xi, followed by a gala lunch in Auckland on Friday 21st November in his capacity as a member of the NZ China Business Council. The day before in Wellington, Peter executed a Memorandum of Understanding (MOU) with the China National Corporation and the China Development Bank. The MOU establishes a basis for cooperation for Chinese investment in forestry and for greater access to the vast China market.