Sharechat Logo

Direct Capital takes stake in real estate firm

Friday 11th June 2010

Text too small?

Private equity investor Direct Capital has taken a minority stake in real estate firm Bayleys to help fund its growth.

Bayleys says the programme which will see the company significantly increase the scope and scale of its operations throughout New Zealand.

It will be based around increasing scope and depth of agency, particularly in the realms of property management, valuations and advisory, and funds management.

Bayley Corporation managing director Mike Bayley said this expansion had already commenced - both with the growth of the company's valuations team in Wellington, and increasing turnover from the firm's steadily developing commercial property management group.

Direct Capital managing director Ross George will join the board.

Bayley says the company will remain largely owned by his family interests.

"I stress that the majority interests of Bayley Corporation Ltd will remain within Bayley family ownership."

George says Direct Capital was attracted to Bayleys because of its; profitable operating track record over a lengthy timeframe; its strong professional management - from director level through to franchise owners, and front-line managers and its long-term and sustainable competitive advantages which Bayleys enjoys over its competitors, and the resulting growth opportunities from this market dominance.

In recent years, Direct Capital has invested in such companies as New Zealand King Salmon, Rodd & Gunn, Ezi Buy, Ryman Healthcare, and Max Fashions.

Direct Capital has been investing in private companies since 1994. Its investors over that time have included such institutional investors as the New Zealand Superannuation Fund, AMP, AXA, and large pension funds and community trusts.  

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Wellington International Airport Ltd (“WIA040”) - Maturity
Devon Funds Morning Note - 18 July 2024
CNU - Commerce Commission releases draft Price Quality decision
Precinct FY24 Annual Results and Webcast Details
Scott Technology appoints new CEO
Synlait FY24 guidance withdrawal
Meridian issues demand response exercise notice to NZAS
July 17th Morning Report
CRP - Korella North Environmental Approval Granted
SCL - Sale of Apple Orchards