The Kowhai Private Equity No.1 LP Offer was made to Wholesale Eligible Investors and successfully closed on 3 March 2017 with $20 million raised. Kowhai invests as a limited partner in Pioneer Capital Partners III LP (PCPIII). PCPIII successfully closed 17 March 2017 with capital commitments of $260m. PCPIII focuses its investment on mid-market expansion stage New Zealand exporters.
The General Partner and Administration Manager is responsible for overseeing the administration and treasury functions of Kowhai. This role involves all communication with investors in Kowhai and managing the flow of funds between the Investment Manager and Kowhai investors. The board of the General Partner and Administration Manager comprises Neil Craig and Ken Phillip.
Neil Craig is a director of Craigs Investment Partners, and Ken Phillip is a director of Custodial Services Limited and was previously the Chief Financial Officer of Craigs Investment Partners. They have many years of experience in administrative roles associated with the Pohutukawa Private Equity funds and other funds.
Kowhai invests as a limited partner in PCPIII LP. Investors’ interest in Kowhai will be held via Custodial Services Limited. There will be a separate board for the General Partner to ensure best practice corporate governance and that investors’ interests are held paramount.
The structure diagram is shown below:
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