Flickering Torchlight fund puts heat on Pyne Gould

Flickering Torchlight fund puts heat on Pyne Gould
Pyne Gould has big plans for Hanley's Farm near Queenstown. (Image: BusinessDesk)
Paul McBeth
George Kerr’s Pyne Gould Corp is racing to work out what to do with its Torchlight fund before the distressed asset vehicle’s life expires at the end of the month.Torchlight is Pyne Gould’s biggest asset, but the limited partnership is due to end on Nov 30, but no exit plan or extension has been agreed with the other partners holding a 29% interest in the fund.Managing director Kerr said in the company’s annual report his primary near-term focus is on progressing the upcoming "liquidity event", which is expecte...

More Property

Analysts eye upside in property sector as values stabilise
Property

Analysts eye upside in property sector as values stabilise

On average, listed property companies are trading at a 22% discount to NTA.

Gregor Thompson 04 Jun 2025
Private building consent body offers competition
Property

Private building consent body offers competition

The country's first independent consenting authority is targeting group builders.

Maria Slade 04 Jun 2025
Stuff/TradeMe go head to head with NZME
Property

Stuff/TradeMe go head to head with NZME

The marriage of online advertising portals with news producers continues.

Pattrick Smellie 03 Jun 2025
Argosy signals succession plan
Property

Argosy signals succession plan

Argosy Property has signalled its management and governance succession plan.The listed property company told the market on Tuesday that directors Chris Gudgeon and Mike Pohio will not stand for re-election at the coming annual general meeting (AGM) in July. The firm also said tha...

Gregor Thompson 03 Jun 2025