Milford to establish private equity fund
The Milford Private Equity Fund II will invest the money it raises in between six to 10 companies which are two to three years away from a sharemarket listing and may also invest in listed companies.
Milford has been doing unlisted and private equity investing as part of its Active Growth Fund since 2009. This includes its KiwiSaver Active Growth Fund.
It is believed that Milford are the only KiwiSaver provider including PE as part of its growth fund. The Active Growth Fund will continue to invest in PE alongside the new fund.
The new fund is managed by Milford investment director John Johnston and Brooke Bone.
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