Kiwi Wealth taps private equity market

Thu, 06 May 2021

Kiwi Wealth is investing $50 million in private equity as it seeks returns in the increasingly large part of the economy that is unwilling to list on the public market.The KiwiSaver provider has committed up to $50m to Pioneer Capital’s latest $300m fund, alongside NZ Super Fund and Ngāi Tahu Holdings.Last year, they invested $54m in venture capital firm Movac Fund 5.Kiwi Wealth had $5.8 billion under management in Morningstar’s latest KiwiSaver survey, meaning its total investment in Pioneer and Movac is roughly 1.8% of its funds u...

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