Tauranga-based private equity investor Oriens Capital is expanding its team and has already seen a significant pickup in potential opportunities as it nears closing an over-subscribed second fund.
In March Oriens launched its Fund 2, aiming to raise $80 million to invest into private New Zealand business valued at between $10m and $50m. It met that target around the middle of June. But the fund also allowed for over-subscriptions of another $20m, of which it has raised a further $17m after a flurry of recent interest. Oriens now expected to meet the $100m maximum, which is double the first fund it raised at its 2016 launch.