Flickering Torchlight fund puts heat on Pyne Gould

Pyne Gould has big plans for Hanley's Farm near Queenstown. (Image: BusinessDesk)

Mon, 29 Nov 2021

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...

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