AIP-Eligible Managed Funds by Strategy: all 65 NZTE-approved funds (2026)
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AIP-eligible managed funds are the funds on Invest New Zealand's (NZTE) Acceptable Managed Funds list that count toward the Active Investor Plus visa Growth ($5M) category. As at 15 June 2026 there are 65 of them, spanning seven private-market strategies — venture capital, private credit, private equity, infrastructure, multi-strategy/fund-of-funds, private capital, and primary-sector/real assets. This page groups the full list by strategy so you can see the shape of the market; it is a categorisation of a published government list, not investment or immigration advice.
Quick answer
- 1Venture Capital22 of 65 funds (34%)Suited to: investors comfortable with early-stage, illiquid holdings over a long horizon — Funds that back early-stage and high-growth private companies.
- 2Private Credit16 of 65 funds (25%)Suited to: investors seeking contractual income from private lending rather than equity upside — Funds that lend to businesses or projects and earn interest.
- 3Private Equity14 of 65 funds (22%)Suited to: investors wanting exposure to established private companies through buy-and-build strategies — Funds that acquire and grow established private businesses.
- 4Infrastructure5 of 65 funds (8%)Suited to: investors wanting long-duration exposure to physical assets and their cashflows — Funds that invest in infrastructure assets such as energy, transport or digital.
- 5Multi-Strategy & Fund-of-Funds4 of 65 funds (6%)Suited to: investors who prefer diversification across strategies inside a single fund — Funds that spread capital across several strategies or underlying funds.
- 6Private Capital2 of 65 funds (3%)Suited to: investors seeking broad private-market exposure not tied to a single strategy label — Funds with a broad private-capital mandate across asset types.
- 7Primary Sector & Real Assets2 of 65 funds (3%)Suited to: investors wanting exposure to land-based and primary-sector assets — Funds investing in primary-sector and real-asset opportunities.
How we compiled this
- Every fund is reproduced verbatim from NZTE's Acceptable Managed Funds list, dated 15 June 2026.
- Strategy categories use each fund's fund-type as published by NZTE; near-identical labels are consolidated (for example "Fund of Fund" and "Multi-Strategy" into one category).
- Counts and percentages are computed from the list — no fund-level performance figures are asserted.
- Verified against nzte.govt.nz by Wholesale Investor on 2 July 2026. NZTE adds and removes funds without notice — confirm current eligibility at the source before relying on it.
Sources: NZTE — Acceptable Managed Funds list, Immigration NZ — Active Investor Plus visa.
Comparison table
1. Venture Capital
Suited to: investors comfortable with early-stage, illiquid holdings over a long horizon
Characteristics
- 22 funds on the NZTE list in this category, across 18 managers.
- On the list in this category: 2040 Ventures, Altered Capital, Previously Unavailable, and others — see the full table below.
Considerations
- Illiquid — capital is typically committed for many years
- Return outcomes are dispersed and back-ended (J-curve)
2. Private Credit
Suited to: investors seeking contractual income from private lending rather than equity upside
Characteristics
- 16 funds on the NZTE list in this category, across 15 managers.
- On the list in this category: ACIF, Blossum, Capital Connect, and others — see the full table below.
Considerations
- Credit risk sits with the borrower
- Liquidity windows are limited vs listed bonds
3. Private Equity
Suited to: investors wanting exposure to established private companies through buy-and-build strategies
Characteristics
- 14 funds on the NZTE list in this category, across 13 managers.
- On the list in this category: ForthCo, ARC Capital, Castlerock Partners, and others — see the full table below.
Considerations
- Multi-year lock-ups are standard
- Valuations are periodic, not daily
4. Infrastructure
Suited to: investors wanting long-duration exposure to physical assets and their cashflows
Characteristics
- 5 funds on the NZTE list in this category, across 5 managers.
- On the list in this category: AAM, Amber & Partners, BeGroup, and others — see the full table below.
Considerations
- Long capital commitment
- Sensitive to interest-rate and regulatory settings
5. Multi-Strategy & Fund-of-Funds
Suited to: investors who prefer diversification across strategies inside a single fund
Characteristics
- 4 funds on the NZTE list in this category, across 4 managers.
- On the list in this category: Greener Pastures New Zealand, Elevation Capital, Nexus Capital, and others — see the full table below.
Considerations
- A second layer of fees can apply at the underlying-fund level
- Look-through to individual holdings is lower
6. Private Capital
Suited to: investors seeking broad private-market exposure not tied to a single strategy label
Characteristics
- 2 funds on the NZTE list in this category, across 2 managers.
- On the list in this category: Aviation Aerospace New Zealand, Boston ME.
Considerations
- Mandate breadth varies — read the offer document
- Illiquid by nature
7. Primary Sector & Real Assets
Suited to: investors wanting exposure to land-based and primary-sector assets
Characteristics
- 2 funds on the NZTE list in this category, across 2 managers.
- On the list in this category: Forest Enterprises, Roger Dickie.
Considerations
- Exposed to commodity and seasonal cycles
- Illiquid holding periods
How to choose
- Consider Venture Capital if: investors comfortable with early-stage, illiquid holdings over a long horizon.
- Consider Private Credit if: investors seeking contractual income from private lending rather than equity upside.
- Consider Private Equity if: investors wanting exposure to established private companies through buy-and-build strategies.
- Consider Infrastructure if: investors wanting long-duration exposure to physical assets and their cashflows.
- Consider Multi-Strategy & Fund-of-Funds if: investors who prefer diversification across strategies inside a single fund.
- Consider Private Capital if: investors seeking broad private-market exposure not tied to a single strategy label.
- Consider Primary Sector & Real Assets if: investors wanting exposure to land-based and primary-sector assets.
Frequently asked questions
- How many AIP-eligible managed funds are there?
- There are 65 funds on NZTE's Acceptable Managed Funds list as at 15 June 2026. NZTE updates the list without notice, so confirm current eligibility at nzte.govt.nz.
- What investment strategies do AIP-eligible funds cover?
- They span seven private-market strategies: Venture Capital, Private Credit, Private Equity, Infrastructure, Multi-Strategy & Fund-of-Funds, Private Capital, Primary Sector & Real Assets. Venture capital and private credit are the two largest groups.
- Is this page investment or immigration advice?
- No. It reproduces and categorises a published government list for information only. Seek licensed financial advice and licensed immigration advice before making decisions, and confirm fund eligibility directly with NZTE and the fund manager.
- What is the difference between the AIP Growth and Balanced categories?
- The Growth category ($5M) recognises higher-risk investments including these NZTE-approved managed funds and direct investments; the Balanced category ($10M) recognises a wider set including certain lower-risk holdings. This list applies to the Growth category.