Augusta launches $109.3m Penrose syndicate

Augusta launches $109.3m Penrose syndicate
Jenny Ruth
Augusta Capital has launched the $109.3 million syndication of the Visy glass factory it bought last October for $178.3 million.The new fund, Augusta Penrose, won't be listed on any stock exchange but Augusta said it "operates an active secondary market facility" to match buyers and sellers in its funds.The key lure for investors is that the fund is offering an initial pre-tax cash return of 5 percent, rising to 5.5 percent in the year ending March 2024.The highest interest rate available from the mainstream banks currently for de...

More Finance

Surcharge ban may not be a win for consumers
Finance

Peter Griffin: Surcharge ban may not be a win for consumers

There are winners and losers in the surcharge move.

Peter Griffin 30 Jul 2025
FNZ employee shareholders stake claim at $7.7b
Finance

FNZ employee shareholders stake claim at $7.7b

The claim has been lodged in the High Court at Wellington.

Victoria Young 29 Jul 2025
FMA warns lenders on mortgage fraud
Finance

FMA warns lenders on mortgage fraud

The FMA sees dangers for borrowers if lenders aren't vigilant.

Staff reporters 25 Jul 2025
‘Teflon Man’ Neil Quigley’s next big job
Finance Analysis

Pattrick Smellie: ‘Teflon Man’ Neil Quigley’s next big job

Is the RBNZ lining up a Canadian replacement for Adrian Orr?

Pattrick Smellie 23 Jul 2025