The Sydney-based company, launched by National Australia Bank executives in 2013, wants to lend to NZ corporates and grow its funding book with local retail investors.

Metrics managing partner Andrew Lockhart said there were "increasing opportunities for non-bank lenders as well as local investors in New Zealand".

Metrics has lent more than A$8 billion across 300 transactions. 

To accompany the NZ launch, the firm has hired three senior names, due to start in March.

Wayne Skerten and Richard Mandeno join as investment directors. The duo has almost 35 years of combined experience in the financial services sector across Australia, the UK and NZ, Metrics said.

Skerten has over 20 years of experience in private equity and leverage finance and was previously an executive manager at ASB. He has also worked as a director at ANZ Capital, and an analyst at PwC.

Mandeno was formerly a client director at the corporate banking arm of ASB.

Meanwhile, Devna Bilimoria joins Metrics as an investment associate. She was previously manager, capital solutions at ASB Bank.

“Each has a depth of experience and expertise in corporate lending and finance that will benefit our local partners and investors,” Lockhart said.

Metrics has experienced continued growth since launching in 2013, having lent in excess of $8 billion across over 300 lending transactions to date.

“As we move into the New Zealand market, we aim to assist companies with non-bank capital as an important and diversified source of funding,” Lockhart added.

Metrics believes its offering will boost choice for investors seeking yield in a low rate environment.

"Banks have slashed interest from cash accounts, term deposits and savings accounts and in bond markets, investors are paying higher prices for declining yields.

“We are seeing increased interest in corporate loans because, by moving just slightly along the risk curve from term deposits and traditional bonds, investors can obtain reliable returns of 4-10% for their portfolios,” he said.

The move by Metrics comes as the non-bank space becomes more competitive in New Zealand. 

Over the past year, Pepper Money, Resimac and Bluestone have entered the market, targeting the near-prime lending space. Aussie non-bank Prospa, which lends to SMEs, also moved into the NZ market last year.