Fisher Funds set to be biggest KiwiSaver PE player

Fisher Funds has earmarked $1 billion of its KiwiSaver funds to be invested into private equity over the next few years. The fund manager, which has $17 billion of KiwiSaver funds, has invested some funds into private equity already but is changing its strategy.

Up until now it has invested locally using the likes of like Movac, Pioneer and Direct Capital. Now it is planning to invest much more into global, mid-market private equity.

Private equity investments will be added to its Growth, Balanced, and Equity KiwiSaver funds, and will be part of the Aggressive Fund in late 2025.

Fisher Funds chief investment officer Ashley Gardyne says his team will take an active role in supporting its portfolio companies in New Zealand, providing strategic guidance alongside financial backing.