Fisher Funds will invest $1 billion of KiwiSaver cash as it chases juicy private equity returns

Up to 10 New Zealand firms could get a direct multimillion-dollar investment from Fisher Funds as the fund manager chases juicy private equity returns. Fisher Funds will allocate more than $1 billion to its private equity strategy, which includes about $200m earmarked to take stakes in privately owned NZ companies. Four of its KiwiSaver funds will gain direct private equity investments, growth, balanced, aggressive and equity. Chief executive Simon Power said the direct private equity strategy would target high-potential companie...