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Milford to establish private equity fund

Milford Asset Management is currently aiming to raise $100 million for a new private equity fund.

Monday, November 21st 2016, 9:00AM

The Milford Private Equity Fund II will invest the money it raises in between six to 10 companies which are two to three years away from a sharemarket listing and may also invest in listed companies.

Milford has been doing unlisted and private equity investing as part of its Active Growth Fund since 2009. This includes its KiwiSaver Active Growth Fund.

It is believed that Milford are the only KiwiSaver provider including PE as part of its growth fund. The Active Growth Fund will continue to invest in PE alongside the new fund.

The new fund is managed by Milford investment director John Johnston and Brooke Bone.

The fund will aim to invest the money over the next three to five years with a target of 20% pre-tax compound annual return.

The fund raising closes on December 16 and is only open to wholesale clients and experienced investors with a minimum investment of $100,000.

Tags: Milford Asset Management Private equity

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AIA 5.35 4.49 5.25 5.55
ANZ 5.54 5.15 5.85 6.15
ANZ Blueprint to Build 2.78 - - -
ANZ Special - 4.55 5.25 5.55
ASB Bank 5.35 4.49 5.25 5.55
Avanti Finance 5.45 - - -
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BNZ - Mortgage One 5.55 - - -
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BNZ - Std, FlyBuys 5.55 5.35 5.94 5.99
BNZ - TotalMoney 5.55 - - -
CFML Loans ▲6.45 - - -
China Construction Bank 5.50 5.40 6.14 6.40
China Construction Bank Special - 4.45 5.19 5.45
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Heretaunga Building Society 5.95 4.80 5.50 -
HSBC Premier 5.49 4.39 5.15 5.39
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.25 ▲4.29 ▲5.09 ▲5.35
Kainga Ora 5.43 4.57 5.58 5.85
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 5.00 5.55 6.19 6.39
Kiwibank - Offset 5.00 - - -
Kiwibank Special 5.00 4.55 5.19 5.39
Liberty 4.84 - - -
Nelson Building Society 5.95 4.95 5.85 -
Pepper Essential 3.44 - - -
Resimac 4.59 5.60 6.16 6.29
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SBS Bank 5.29 4.69 5.35 5.49
SBS Bank Special - 4.19 4.85 4.99
Select Home Loans 4.09 4.29 4.86 5.09
The Co-operative Bank - First Home Special - ▲4.19 - -
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The Co-operative Bank - Standard 5.45 ▲4.79 5.69 5.95
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TSB Special 4.79 ▼4.34 ▼4.99 5.35
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Wairarapa Building Society 5.24 4.55 5.20 -
Westpac 5.54 5.09 5.79 6.09
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Westpac Special - 4.49 5.19 5.49
Median 5.45 4.55 5.25 5.52

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