Chapman Tripp partner Nick Wells and senior legal advisor Mark Burton worked with Maui Capital to register New Zealand’s first limited partnership under the Limited Partnerships Act 2008, which came into force on 2 May 2008.
The Maui Capital Indigo Limited Partnership is the investment vehicle for institutional investors in the Indigo Fund, Maui Capital’s recently established private equity fund. The Fund’s successful offer closed having raised more than 230 million dollars.
Nick Wells says that limited partnerships are used overseas as investment vehicles, especially in the areas of private equity and venture capital investment.
“The introduction of a limited partnership regime to New Zealand is significant, not only for the venture capital and private equity industry, but for any other business wanting to take advantage of the features of the limited partnership structure, which include the liability protection of companies and the tax and confidentiality advantages of partnerships.”