NZVCA Newsletter - Nov 2012

SELWYN

The Queenstown conference was a refreshing change. The speakers and changed format received strong support.

Our Australian members were well represented with Anchorage Capital awarded the Deal of the Year for their Burger King investment.

The mountain scenery, local vineyards and jet boating was conducive to an enjoyable occasion. The popular vote is for another chance to explore the southern lakes district in 2013.

New Zealand private equity investments in the first nine months of 2012 were down according to recent data while total regional Australia and New Zealand activity reported a 22% increase from the same period last year.

There was some good news for the NZ venture market with NZVIF announcing the long awaited partnership with Taiwan (more below).

In upcoming events the New Zealand Responsible Investment Briefing on 15 November in Auckland is recommended.

Colin McKinnon, Executive Director

In this issue:

o NZVCA announce award for Deal of the Year
o Venture Capital News
o Private Equity News
o
o Local News
o International News
o Member Profile

Upcoming Events:

AVCJ Forum 2012

13 November 2012

Click here to register

Christmas over the City

6 December 2012
Ernst & Young, Majestic Centre, 100 Willis Street, Wellington

Click here to register

Christmas on the Deck

11 December 2012
Ernst & Young, 2 Takutai Square, Britomart, Auckland

Click here to register

NZVCA ANNOUNCE AWARD FOR DEAL OF THE YEAR
Anchorage Capital Partners for their investment in Burger King New Zealand.

The winner of the Deal of the Year is Anchorage Capital Partners for their investment in Burger King New Zealand.

The winner of our 2012 award is an example of the purpose and aim of private equity: to steward companies so that they grow and create value and long-term sustainability through aligning the interests of owners and management. This ultimately delivers improved productivity, creates jobs and contributes to the national economy.

Read more

VENTURE CAPITAL NEWS
Private Equity deal signed with Taiwan

The New Zealand Government's private equity fund and its Taiwanese equivalent have signed a partnership agreement which will see them both inject up to $160 million into a new cross-border venture capital fund.

Under the terms of the deal, the New Zealand Venture Investment
Fund (NZVIF) and Taiwan's National Development Fund will stump up $25m each into any new venture capital (VC) fund looking to invest in Kiwi or Taiwanese business ventures.

Read more

PRIVATE EQUITY NEWS
Knox Investment Partners Hits Fund Target Range

Knox Investment Partners Hits Fund Target Range And Appoints Hugh Fletcher To The Advisory Committee.

Knox Investment Partners has confirmed its top tier status in the local private equity market with its fourth fund reaching the target range of $100-150m and the recent appointment of Hugh Fletcher to the Advisory Committee.

Read more

PE Investments in Australia and NZ Reach U$1.6 billion

Private Equity investments in Australia and New Zealand (ANZ) region for the first nine months of 2012 reported 92 deals and a total invested equity value of AU$1.65 billion, a 22% increase from the same period last year, despite the 21% drop in number of deals. Amount invested in Australia from 82 deals saw disclosed value reach AU$1.63 billion, up 25% over the first nine months of 2011.

Read more

Acanthus survey puts LP-GP relationship under the microscope

Acanthus Advisers’ seventh annual survey of LP-GP relations examines the foundation of the LP-GP relationship, asking the question: “Is the LP-GP model working?”
And according to the private equity placement agent's findings, on initial inspection, it would appear so. The majority of both LPs and GPs describe their relationship as neither weak nor strong and more respondents in both groups describe the relationship as excellent and solid versus weak.

Read more

LOCAL NEWS
The Maori economy is worth $37 billion

But it hasn't broken out of the primary industry pigeonhole. Are collaboration and an increased appetite for risk the keys to a different kind of entrepreneurial success?

Eels don’t have the sex appeal of our national icon, the kiwi, John Hohapata-Oke concedes.

The Ngati Awa man speaks as a driving force behind the Whakatane Kiwi Trust. From the discovery of a few birds in the Ohope Scenic Reserve in 1999, kiwi now thrive in the area thanks to the charity’s efforts.

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INTERNATIONAL NEWS
NZTE makes international appointments

New Zealand Trade and Enterprise (NZTE) has made several recent appointments, including Clayton Kimpton as new regional director for India, the Middle East and Africa. He will be responsible for the operations of NZTE's offices in Dubai, New Delhi and Mumbai and will move to Dubai in April.
Kimpton is a senior commercial advisor and will join NZTE from commercial law firm Kensington Swan

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MEMBER PROFILE
Perpetual Capital Management

The Rotorua Energy Charitable Trust was established on 3 June 1994. It was created so that some of the funds born out of the corporatisation of the Rotorua Electricity company could be retained and used for the benefit of the community in Rotorua and the surrounding districts where the Trust gets its money. On 1 September 1994, the Trust received $16,675,340 fully paid up ordinary shares in Rotorua Electricity Limited, amounting to 51 per cent of the issued voting capital.

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ENDS

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