Chapman Tripp is advising Direct Capital on the establishment of Direct Capital IV and Pohutukawa II - its latest private equity funds.
Direct Capital IV is a limited partnership for institutional investors and Pohutukawa II is the IPO of a new investment company to raise money from retail investors. Pohutukawa II is being raised in conjunction with ABN AMRO Craigs and closes on 27 February 2009.
Direct Capital IV and Pohutukawa II will invest in mid-sized private companies that typically require further capital to continue growing their business, expand into Australia, or release capital for their owner, an investment theme Direct Capital has followed since it began fifteen years ago.
Direct Capital has been at the forefront of the private equity industry in New Zealand, investing more than $375 million into 60 companies since 1994, including well-recognised names such as Ryman Healthcare, Blue Star and EziBuy, and more recently, New Zealand King Salmon, Max Fashions and GoBus.
Principal Tim Tubman advised Direct Capital and acted as solicitor to the Pohutukawa II IPO.