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.
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 three 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 500 staff across 18 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 Ltd, the first Pohutukawa fund, Pohutukawa Private Equity II Ltd, Oriens Capital Ltd Kowhai PE Management Ltd, Karaka Management Ltd, Matai Management Ltd 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 also a director of 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 a number of Craigs Investment Partners subsidiary and associate companies including 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.