The Karaka Private Equity No.1 LP Offer was made to Wholesale Investors/Eligible Investors and successfully closed on 29 March 2018 with $35 million raised. Karaka invests as a limited partner in Pencarrow V Investment Fund LP (Fund V). Fund V successfully closed 29 March 2018 with capital commitments of $250m. Fund V focus investment on private New Zealand domiciled, lower and mid-market companies with enterprise values of $20m – $100m.
The General Partner and Manager is responsible for overseeing the administration and treasury functions of Karaka. This role involves all communication with investors in Karaka and managing the flow of funds between the Investment Manager and Karaka investors. The board (Board) of the General Partner and Manager comprises Neil Craig and Ken Phillip.
Neil Craig is a director of Craigs Investment Partners and Ken Phillip is a director of Custodial Services Limited and was previously the Chief Financial Officer of Craigs Investment Partners. They have many years of experience in administrative roles associated with the Pohutukawa Private Equity funds and other funds.
The Investment Manager of Pencarrow V Investment Fund LP (Fund V) is Pencarrow Private Equity Management Limited, a company owned by Pencarrow executives.
The Investment Manager has an Investment Committee which is responsible for all investment decisions for Fund V.
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