Pohutukawa V

Pohutukawa V is modelled on its successful predecessors, Pohutukawa I and Pohutukawa II. Like Pohutukawa I and II, Pohutukawa V will be managed by Direct Capital and will invest pro-rata alongside Direct Capital’s latest institutional fund, Direct Capital V.

The new fund will continue to focus on mid-market private equity growth investments in New Zealand and Australia.

The Offer was made to Wholesale Investors/Eligible Investors and successfully closed on 19 December 2016 with $50 million raised. The offer was significantly oversubscribed.

Pohutukawa V Board

Board of Directors of Pohutukawa Private Equity V Limited

The Board is responsible for overseeing the administration and treasury functions of Pohutukawa V. This role involves all communication with shareholders in Pohutukawa V and managing the flow of funds between the Investment Manager and the shareholders of Pohutukawa V. The Board of Pohutukawa Private Equity V Limited comprises two directors: Neil Craig and Ken Phillip.

Neil Craig is the founding principal and a director of Craigs Investment Partners, and Ken Phillip was previously the Chief Financial Officer of Craigs Investment Partners. Both Neil and Ken have many years of experience in administrative roles associated with the Pohutukawa group of companies.

Supporting the directors in administration of Pohutukawa V will be Peter Lalor of Craigs Investment Partners, the executive officer for the Fund.

Neil Craig (Non Executive Chairman)

Neil is the founding principal and a director of Craigs Investment Partners, a New Zealand Exchange Participant Firm, a company he has been instrumental in building from a small regionally based sharebroking business in Whakatane to its current position as a leading New Zealand investment advisory firm. Craigs Investment Partners has approximately 650 staff across 19 branches throughout New Zealand. Neil has a broad experience in private equity transactions, stock exchange listings, capital raisings and corporate activity for a wide range of companies. In a personal capacity Neil has been an active private equity investor for many years.

Neil is currently a director of Pohutukawa Private Equity II Ltd, Pohutukawa Private Equity V Ltd, Pohutukawa Private Equity VI Ltd, Kowhai PE Management Ltd, Karaka Management Ltd, Matai Management Ltd, Pilot Bay Funds Management Limited and a number of privately held companies.

Ken Phillip (Non Executive Director)

Ken was previously the Chief Financial Officer for Craigs Investment Partners. Ken is a director of Pohutukawa Private Equity V Limited, Pohutukawa Private Equity VI Limited, Pohutukawa II Management Limited, Kowhai PE Management Limited, Karaka Management Limited, Matai Management Limited, Pilot Bay Funds Management Limited and the Craigs Investment Partners subsidiary companies Custodial Services Limited and Craigs Investment Partners Superannuation Management Limited.

Board of Directors of Investment Companies

The board of directors of each Investment Company will be appointed by Direct Capital V Investment Partners LP as the holder of the ordinary shares in each Investment Company. Direct Capital V Investment Partners LP will utilise its director appointment and voting rights in respect of Investment Companies as may be instructed from time to time by the Investment Manager.

Investments

AS Colour Holdings Limited

Sector: Printwear
Where: New Zealand
About: AS Colour is a leading provider of high quality blank apparel and other merchandise to the international screen and digital printing industry, a sector often referred to as printwear.

Exact Radiology

Sector: Health Services
Where: Australia
About: Exact Radiology is a diagnostic imaging business operating and servicing a network of 13 radiology clinics in South East Queensland, Australia.

Qestral Corporation

Sector: Retirement Village
Where: NZ
About: Qestral Corporation is a Christchurch based operator of premium retirement villages in New Zealand.

Beca Group

Sector: Construction Services
Where: NZ/Australia
About: Beca is an employee-owned engineering and management consultancy firm, employing more than 3,000 across 20 offices across Asia Pacific.

Caci Group Holdings Limited

Sector: Health Services
Where: NZ
About: Caci is New Zealand’s leading provider of skin and appearance treatments, operating a franchise network of over 50 clinics throughout New Zealand.