Thursday, July 31, 2025
NewsWave
No Result
View All Result
  • Home
  • World
  • USA
  • Business
  • Sports
  • Entertainment
  • Technology
Login
  • Home
  • World
  • USA
  • Business
  • Sports
  • Entertainment
  • Technology
Login
No Result
View All Result
Login
NewsWave
No Result
View All Result
Home World New Zealand

FirstCape tipped as Fisher bidder Investment News

21 April 2024
in New Zealand
0
FirstCape tipped as Fisher bidder Investment News
Share on FacebookShare on Twitter
How does this make you feel?


Malcolm Jackson: FirstCape chief

The yet-to-be-fully-formed FirstCape has emerged as a potential buyer of a stake in Fisher Funds, according to press across the Tasman.

National news publication, The Australian, reported earlier this month that the β€œnewly merged JB Were and Jarden wealth manager backed by Pacific Equity Partners [PEP] is understood to have thrown its hat in the ring forΒ FisherΒ Funds”.

Local sources in NZ have also confirmed a FirstCape tilt at Fisher was likely on the table as US private equity firm, TA Associates, looks to offload its roughly one-third share in the Takapuna-based fund manager.

TA put its interests in the $24 billion Fisher on the block late last year with other rumoured bidders including private equity funds Blackstone and Permira, based in the US and UK, respectively.

Toi Foundation – previously known as the TSB Community Trust – holds the remaining two-thirds of Fisher after acquiring the business in 2017 in a joint venture with TA.

Maria Ramsay, Toi chief, told BusinessDesk that the community trust was β€œnot looking to sell its 66% majority ownership stake in Fisher Funds”.

PEP and Jarden – which own 35 per cent and 20 per cent, respectively, of FirstCape – were bidders for Kiwi Wealth, losing out to Fisher after the firm stumped up $310 million in debt-funded money for the formerly government-owned investment and KiwiSaver provider. Kiwi Wealth added about $8 billion to Fisher assets under management

Based on similar valuations, the TA piece of Fisher could also fetch over $300 million

Last week PEP raised A$1.5 billion for its latest buyout vehicle, Fund VII, the Australian Financial Review reported.

It remains unclear how a third share in Fisher would fit in the FirstCape blended family of the Jarden/JBWere NZ wealth advisory arms, BNZ investment funds (including KiwiSaver) and Harbour Asset Management.

β€œFirstCape doesn’t comment on market speculation,” a spokesperson for the group said.

Meanwhile, FirstCape is still wrapping up the formal merger details as the business, headed by Malcolm Jackson, looks to complete the deal by the end of this month.

As at last week, six of the 10 FirstCape entities listed on the NZ companies register were live including the overarching group business that names Jarden Wealth and Asset Management as 51 pe cent majority owner with National Australia Group NZ holding the remainder.

The National Australia Bank, BNZ parent, is slated to own 45 per cent of FirstCape under the deal unveiled late in December.

Last month BNZ fired all third-party managers (except Harbour) of Australasian assets in its KiwiSaver and other funds in phase one of the FirstCape makeover.

Β 



Source link

πŸͺ„ Creating a simple explanation...

Tags: bidderFirstCapeFisherInvestmentNewsTipped
Previous Post

Markets keep AMP NZ funds moving against the flow Investment News

Next Post

Germany targets air defense ramp-up as Berlin corrals allies behind Ukraine – POLITICO

Related Posts

Taranaki teen father sentenced to home detention for breaking newborn’s ribs, bruising his body
New Zealand

Taranaki teen father sentenced to home detention for breaking newborn’s ribs, bruising his body

by My News Wave
31 July 2025
0

A teen father has admitted to physically assaulting his newborn son, breaking the baby's ribs and bruising his face, due to feeling "tired and overwhelmed" from night feeds, while the mother struggled with post-natal depression. Reports indicate that the mother occasionally heard the father telling the baby to "shut up" during these difficult nights. Want More Context? πŸ”Ž

Read more
Adam Busby of Taranaki jailed for sexual connection with a 12yo whom he impregnated
New Zealand

Adam Busby of Taranaki jailed for sexual connection with a 12yo whom he impregnated

by My News Wave
30 July 2025
0

A 32-year-old man, Adam Busby, was sentenced to three years in prison for having unprotected sex with a 12-year-old girl, who is now 13 and visibly pregnant. The incident occurred after Busby approached her in the street and invited her to his house in Stratford, Taranaki, on January 11 of this year. Want More Context? πŸ”Ž

Read more
Auckland entertainer accused of raping and grooming underage girl breaks silence
New Zealand

Auckland entertainer accused of raping and grooming underage girl breaks silence

by My News Wave
30 July 2025
0

An Auckland entertainer has denied allegations of raping and grooming a girl, expressing he is "devastated, deeply shaken and utterly shocked." The police have charged him with multiple counts of rape, unlawful sexual connection, and related offenses, while his lawyer has requested name suppression due to significant personal consequences. Want More Context? πŸ”Ž

Read more
Society Insider: Anna, Nick, Mat Mowbray’s inner circle – meet the people closest to NZ’s richest family
New Zealand

Society Insider: Anna, Nick, Mat Mowbray’s inner circle – meet the people closest to NZ’s richest family

by My News Wave
30 July 2025
0

Man about town Ricardo Simich explores the Mowbray family's influential network in his latest Society Insider column, focusing on the key individuals who support Mat, Nick, and Andrew Mowbray in their business ventures and personal lives. The Mowbray brothers, co-founders of Zuru Group, are New Zealand's wealthiest siblings, with a net worth exceeding $20 billion, while their sister Anna, a former co-founder, is valued at over $500 million. Want More Context? πŸ”Ž

Read more
Councillor Christine Fletcher slams Bishop’s Auckland housing plan as β€˜bully-boyish’
New Zealand

Councillor Christine Fletcher slams Bishop’s Auckland housing plan as β€˜bully-boyish’

by My News Wave
30 July 2025
0

Former National MP Christine Fletcher has criticized Minister Chris Bishop’s housing proposals for Auckland, deeming his targets "bully-boyish" and his RMA reforms "blunt and disproportionate," warning they threaten the city's heritage and unique landscape. Bishop dismissed her remarks as "hyperbole," but Fletcher, alongside Ōrākei Local Board member Troy Churton, expressed concern over the potential collapse of Auckland's suburban and cultural diversity. Want More Context? πŸ”Ž

Read more
Why our biggest power companies should be broken up (and why they shouldn’t) – Power to the People, part 4
New Zealand

Why our biggest power companies should be broken up (and why they shouldn’t) – Power to the People, part 4

by My News Wave
30 July 2025
0

As New Zealand households face rising electricity costs, the New Zealand Herald's Power to the People campaign suggests reforms like best-price promises and abolishing disconnection fees, though critics argue that deeper market changes are needed. Former energy minister Simon Bridges highlights the dominance of four companiesβ€”Mercury, Contact, Genesis, and Meridianβ€”that control 85% of the market and made daily profits of $7.8 million last year. Want More Context? πŸ”Ž

Read more
NewsWave

News Summarized. Time Saved. Bite-sized news briefs for busy people. No fluff, just facts.

CATEGORIES

  • Africa
  • Asia Pacific
  • Australia
  • Business
  • Canada
  • Entertainment
  • Europe
  • India
  • Middle East
  • New Zealand
  • Sports
  • Technology
  • UK
  • USA
  • World

LATEST NEWS STORIES

  • What we know about Midtown Manhattan mass shooting suspect Shane Devon Tamura
  • Rafa Mir turns up the heat with Sevilla
  • South Korea breaks 117-year record with 22 β€˜tropical nights’ in July | Climate Crisis News
  • About Us
  • Disclaimer
  • Privacy Policy
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact Us

Copyright Β© 2025 News Wave
News Wave is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • USA
  • Business
  • Sports
  • Entertainment
  • Technology

Copyright Β© 2025 News Wave
News Wave is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In