Direct Capital bails on Bayleys Real Estate

The private equity firm has exited Bayley Corp, with the family buying back its one-third stake. (Image: bayleys.co.nz)

Thu, 19 May 2022

Direct Capital has divested its remaining holding in Bayley Corporation, the owner of Bayleys Real Estate.The country’s largest private equity firm, which has raised $1.7 billion in capital since its formation in 1994, took up 32% of the realty group shares with the purchase of 1.85 million shares from brothers John and David Bayley in 2010.The value of the purchase wasn’t disclosed, but the equity firm’s mid cap focus is aimed at equity investments of between $20 million and $80m and is “comfortable with both minority a...

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