Maui Capital’s Indigo fund loses further value after failed Freshmax exit

Freshmax, which is part-owned by Maui Capital, had a "tumultuous" financial quarter to March. (Image: Freshmax)

Fri, 19 May 2023

Private equity firm Maui Capital’s Indigo fund continues to plummet in value, with one of the investments it tried to sell last year losing further value due to Cyclone Gabrielle. Maui Capital, which is being wound up, tried to sell its share of Freshmax, which imports, wholesales and distributes fresh produce last year, but the unconditional deal hit a snag after the prospective buyer, MNF Family Office, failed to get finance. Freshmax was valued at 30% of the fund’s value at March 31, down from 40% a year ago, acco...

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