The private equity investment arm of KiwiSaver provider Booster has invested more than $10 million into buying a 42 per cent stake in Katikati-based avocado grower and exporter Darling Group.
Booster, which has around $3 billion invested in its KiwiSaver scheme and is the 10th largest provider, is one of the few KiwiSaver schemes which invests in unlisted private companies through its Tahi LP fund.
Private company investment offers the potential for higher returns but are also a less liquid investment as their shares are not traded on a public market making it harder to sell out quickly.
Tahi already owns a number of wineries, as well as having stakes in Sunchaser Avocados, Dodson Motorsport and financial services company Lifetime.