New Kiwi firm launches NZ$60m fund

Oriens Capital has raised NZ$30m for its debut fund to date, and will seek opportunities across a range of sectors.

A New Zealand investment firm set up this year has raised NZ$30 million ($22 million; €19 million) for its debut fund, which has a NZ$60 million target.

Oriens Capital is targeting mid-market businesses in New Zealand for its Private Equity Fund, including food production, agtech and agricultural services, industrial and specialist manufacturing, transport and logistics, export businesses, and tourism.

Other sectors will be considered, but the fund will not be investing in farming, forestry, property development, traditional retail, and traditional mining, according to its website.

Oriens will identify opportunities to invest in existing management teams which are buying out a business’s individual or corporate owner.

The firm’s chief executive is James Beale, who worked for New Zealand investment advisory firm Craigs Investment Partners for 14 years. Kiwi private equity firm Knox Investment Partners’ former fund director David Bell is chief financial officer. Peter Tinholt, who was general manager of Asia-Pacific for concentrated fruit company Taura Natural Ingredients, is chief operating officer.

The fund will target companies worth between NZ$10 million and NZ$50 million. It has not outlined specific allocation targets for different sectors, but will seek strong opportunities as they present themselves, according to the website.

This story first appeared on Agri Investor