Fisher Funds starts private equity team, hires two from Jarden

Michael Walmsley been appointed as Fisher Funds head of private markets. Photo / Supplied

Fisher Funds says it will establish a private equity team.

“We know there is a real interest from our clients in private markets as an option to provide them with enhanced returns,” the company said today.

“With more than 1000 private companies in New Zealand valued at $20 million to $100m there is a rich opportunity for our clients to invest in successful businesses, capitalise on their growth and put money back into the local economy.”

Fisher Funds has recruited Michael Walmsley from Jarden.

Walmsley will be Fisher Funds head of private markets.

For seven years he had led Jarden’s principal investments business and before that, he worked at Macquarie Group in London and Sydney.

“Michael brings more than 15 years’ experience investing in private businesses, a long-term mindset and significant transactional, financial and governance experience across a range of industries,” said Ashley Gardyne, Fisher Funds chief investment officer.

Earlier this year, Walmsley and his Jarden colleagues advised Fisher Funds on its investment in Lodestone Energy, Gardyne added.

Fisher Funds said it recruited investment associate Jennifer Chee, who also recently worked at Jarden with Walmsley.

Chee had experience in direct investing and advisory and before Jarden had worked at NZ Super.

After acquiring Kiwi Wealth for $310m in late 2022, Fisher Funds became the second-largest KiwiSaver firm after ANZ.

Late last year, it hired former Cabinet minister and TVNZ chief Simon Power as its chief executive.