FNZC and the founding principals of Pearlfisher Capital Limited (“Pearlfisher”), Jarrod Bruce and Tony Abraham, are pleased to announce that FNZC has formed a joint venture with Pearlfisher in the property finance sector.
As part of the joint venture, FNZC has invested primary capital into Pearlfisher in consideration for a 50% interest, allowing Pearlfisher to grow and appropriately invest directly in transactions alongside third party investors.
Pearlfisher is an experienced arranger of non-bank lending to the New Zealand property market, with a particular focus and specialist expertise in the development sector. Pearlfisher has experienced significant growth in recent years within a supportive sector, including a strong and loyal private investor base who have assisted in funding numerous residential and retail projects over the last 6 years. This has allowed Pearlfisher (via its investors), to become a recognised source of non-bank lending in the market. FNZC’s investment enables Pearlfisher to co-invest alongside its investors and the ability to expand this offering to a wider investor market.
Pearlfisher enjoys long-standing relationships with the main trading banks and wider property market professionals which allows it to originate, consider and provide well-structured direct lending opportunities for its investor base and borrowers alike. Pearlfisher provides access to first and second mortgage facilities and is looking to expand its first mortgage portfolio in particular as tighter lending restrictions, liquidity constraints and higher levels of required capital in the banking sector create appropriate opportunities.
FNZC is excited to add another unique asset exposure to our client offering and looks forward to delivering high quality, bespoke investment strategies as part of our diversified Wealth Management service.
We will be hosting events in all of our centres over the coming months to allow you to meet the principals and introduce the offering that Pearlfisher provides. If you would like to know more, please contact your Wealth Adviser.
Following FNZC’s investment in its Christchurch Wealth Management office in 2016 (complementing its Nelson office), and in dairy derivatives, the investment in Pearlfisher reinforces that FNZC is open to growth to enhance its client offering.
James Lee
Managing Director, Head of Securities
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