Private Equity Investment Opportunities in New Zealand
Access institutional private equity funds investing in established NZ businesses targeting 15-25% IRR over 4-7 years.
Compare Top Opportunities
Active Long Term Growth Fund
by ForthCo
Mid-market PE with quarterly liquidity
Henton Fund 2
9-12% p.a. from experienced credit specialists
Kākāpō Responsible Investment Fund
by Bancorp
10-15% p.a. with impact focus
DE Capital Fund
by DE Capital
10-14% p.a. with equity participation upside
Greenmount Co-Investment Fund No.1 LP
12-18% p.a. from co-investment
Pioneer Capital Private Equity V
15-20% p.a. from global expansion
Castlerock Partners Fund
8% distributions + capital growth
About This Category
Private equity in New Zealand provides wholesale investors with access to ownership stakes in established, cash-generating businesses across diverse sectors. PE funds target companies with $5M-$100M in revenue, acquiring majority or significant minority positions to drive operational improvements, strategic growth, and value creation over 4-7 year hold periods.
NZ private equity strategies include buyouts (acquiring majority stakes in established businesses), growth equity (minority investments in profitable, growing companies), and special situations (turnarounds, distressed assets, family business transitions). Target companies span manufacturing, distribution, services, technology, healthcare, and consumer sectors, with fund managers bringing operational expertise, strategic guidance, and growth capital.
Target returns for private equity funds typically range from 15-25% IRR (2-3x invested capital) over 4-7 years. Returns come through exits via trade sales to strategic buyers, secondary sales to other PE funds, or recapitalizations. PE funds have 10-12 year fund lives with capital called over 3-4 years as deals close, then distributions from exits starting in years 4-8.
Fund Managers in this Category
Explore providers offering funds in this asset class on Wholesale Investor NZ.
Bancorp
Investment banking group with private equity and responsible investment focus
Castlerock Partners
Private equity firm focused on mid-sized NZ businesses with evergreen structure
DE Capital
Private debt investor focused on mid-market NZ businesses via senior secured loans plus warrants
ForthCo
ForthCo is a New Zealand mid-market private equity firm that partners with business owners and management teams to build more valuable companies. Founded in 2020 and based at Level 2, 33 College Hill, Freemans Bay, Auckland, ForthCo brings capital, capability and long-term commitment to productive New Zealand businesses, focusing on active, hands-on investment — working alongside founders to accelerate growth, improve operations and unlock value. The firm is a member of the New Zealand Private Capital Association and holds NZBN 9429047890183. The vehicle listed on Wholesale Investor is the Active Long Term Growth Fund, an open-ended (evergreen) limited partnership backing proven, profitable New Zealand businesses with enterprise values of roughly NZ$10–100 million. The fund offers quarterly distributions and quarterly redemption windows, with a NZ$100,000 minimum investment for wholesale investors. The Active Long Term Growth Fund appears on the NZTE Acceptable Managed Funds list for the Active Investor Plus (AIP) visa, added 27 August 2025 under the listing "ForthCo Limited" (list dated 15 June 2026), and is recorded in this directory under the AIP Growth category — which under current settings requires a NZ$5 million investment over 36 months. The team recorded in this directory includes Henry Withers (Executive Chairman), Phil Veal (Managing Director), Rebecca Robinson (COO / Head of Portfolio Operations), Thomas Redford (Investment Director), Stefanie White (Finance Director) and Jonty Sabiston (Investment Analyst). Offers of interests in the fund are made to wholesale investors under the Financial Markets Conduct Act 2013 (Schedule 1) via ForthCo's own offer documents.
Greenmount Capital
Greenmount (also styled GreenMount; investment arm GM Capital) is an independent advisory and investment-management firm operating across Australia and New Zealand, with offices in Auckland, Christchurch and Sydney. Its capital division focuses on private-capital investment management, partnering with businesses to support growth. The firm's New Zealand base is Level 2, 1 Albert Street, Auckland; it holds NZBN 9429049393835, and this directory records its history from 2018. Hugo Fisher is recorded as the key contact for New Zealand operations. Two Greenmount vehicles are listed on Wholesale Investor, both structured as limited partnerships and offered to wholesale investors. The Greenmount Capital New Economy Fund LP is a venture capital fund with a recorded fund size of NZ$60 million, focused on Series A investment into globally scalable businesses across seven transformative themes. The Greenmount Co-Investment Fund No.1 LP is a private equity vehicle providing access to deals alongside established Australasian private equity sponsors. Both funds appeared on earlier editions of the NZTE Acceptable Managed Funds list for the Active Investor Plus (AIP) visa but are not on the current list dated 15 June 2026; AIP applicants can confirm current status against the live NZTE list. Offers of interests in the funds are made to wholesale investors under the Financial Markets Conduct Act 2013 (Schedule 1) via the manager's own offer documents. Source: greenmount.com.
Henton Capital
Mid-market credit fund for NZ companies with experienced credit team
NetFunds
NetFunds is a New Zealand-based alternative asset investment manager built for active participation in private credit, private equity and commercial property. Founded by Michael Karabassis — an experienced commercial property investor and fund manager who has personally completed over 200 property transactions — the Auckland firm operates lending, private equity and property divisions and holds NZBN 9429052281471. Two NetFunds vehicles are listed on Wholesale Investor. The NetCredit Unit Trust, the firm's flagship private credit fund, finances New Zealand SMEs through diversified secured loans with three-year average maturities; it is structured as a PIE unit trust, under which tax on attributed income is capped at the 28% PIE rate for eligible investors. The NetEquity Opportunities Fund LP provides access to New Zealand private equity through a blend of fund-of-funds allocations and direct investment into SME companies, with a NZ$100,000 minimum for wholesale investors. Directors recorded in this directory include Dave Armstrong (NetCredit) and Hamish Blackman (NetEquity), alongside managing director Michael Karabassis. Both funds appear on the NZTE Acceptable Managed Funds list for the Active Investor Plus (AIP) visa — NetCredit Unit Trust added 26 September 2025 and NetEquity Opportunities Fund LP added 10 November 2025 (list dated 15 June 2026) — and are recorded here under the AIP Growth category, which under current settings requires a NZ$5 million investment over 36 months. Offers of interests in both funds are made to wholesale investors under the Financial Markets Conduct Act 2013 (Schedule 1) via the manager's own offer documents.
PG Investments
PG Investments (Perpetual Guardian Investments) provides a transparent and scalable platform equipping advisers with forward-thinking investment solutions. Their range spans from diversified core funds to customised single-asset strategies, including specialist funds, core funds, and multi-asset portfolios. The PG Funds Scheme is a wholesale offer available to qualifying wholesale investors under the Financial Markets Conduct Act 2013.
Pioneer Capital
Established in 2005, one of the largest NZ private capital investors with $1.1B raised
Frequently Asked Questions
How do private equity funds generate returns?
PE funds create value through three key levers: operational improvements (revenue growth, margin expansion, efficiency gains), strategic initiatives (acquisitions, new markets, product expansion), and financial engineering (debt optimization, working capital management). Funds typically hold companies for 4-7 years before exiting via trade sale or secondary buyout.
What are the minimum investments for PE funds?
Minimum investments for NZ private equity funds typically range from $250,000 to $1 million for retail-accessible funds, with institutional PE funds requiring $2-5 million minimums. Some funds structured as PIEs or limited partnerships have lower minimums of $100K-250K to broaden accessibility to wholesale investors.
Are private equity funds AIP eligible?
Yes, most NZ private equity funds investing in growth businesses qualify for the Active Investor Plus visa program. Both buyout and growth equity strategies typically meet Immigration NZ criteria, making PE a popular asset class for AIP visa applicants seeking professional management and diversified exposure.
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AIP Visa Support
Find AIP-eligible investments for Active Investor Plus visa applications.
For wholesale and eligible investors only. Minimum investment typically $50,000+.