Direct Capital sees opportunities in recession for 'sensible valuations'

Private company investor Direct Capital aims to start investing in its seventh fund by the end of March. Direct Capital, which counts the New Zealand Super Fund, Accident Compensation Corporation (ACC) and iwi and community trusts among its investors, is currently tapping existing and potential new investors for Direct Capital VII. Direct Capital director Gavin Lonergan said the firm started raising for its new fund at the beginning of November. Lonergan said Direct hoped to have existing investors commit to the fund shortly...