Next Generation Partners

Rising Stars

Investment funds in New Zealand

Chapman Tripp

Clients single out Chapman Tripp for its ‘real specialism in the areas of managed funds and financial services’. The practice counts major domestic banks and issuers among its key client roster, which turn to the ‘diverse’ team for its capabilities in a range of funds matters and FMCA regulatory issues. The practice is steered by Auckland-based partner Penny Sheerin, who advises on the full range of legislation affecting financial services providers, such as fund managers, brokers, financial advisers and insurers. A host of clients from the financial services, insurance and banking sectors turn to Tim Williams for his experience in commercial, M&A, restructuring and NZX listing matters. Consultant Mike Woodbury is noted for his focus on workplace savings, KiwiSaver and superannuation, while ‘vastly experienced, technically sound and very responsive’ associate Emma Dale is recommended for her expertise on funds and superannuation matters.

Practice head(s):

Penny Sheerin


Other key lawyers:

Tim Williams; Bradley Kidd; Mike Woodbury; Kara Daly; Emma Dale


Testimonials

‘A good team that has real specialism in the areas of managed funds and financial services, as well as good industry presence and respect amongst its peers. It is also a diverse team.’

‘Penny Sheerin (partner) shows real enthusiasm for the area of law relevant to us, and has proven invaluable in fostering good client relationships. She is technically sound in legal analysis, and shows a real willingness for commerciality in addition to strict legal interpretation.’

‘Emma Dale (special counsel) is vastly experienced, technically sound and very responsive to our queries and issues.’

Key clients

Bank of New Zealand


ANZ Bank New Zealand


AMP Wealth Management New Zealand Limited


BT Fund|s| Management


Fisher Funds| Management


Generate Investment Management Limited


Centuria| |Funds Management Limited


Conrad Funds Management| Limited


First |Sentier| Investors (Australia) IM Limited


The New Zealand Guardian Trust Company Limited (NZGT)


Kiwi Group Holdings| Limited


360 Capital FM Limited


A|brdn


Alceon| NZ Limited


Betashares| Capital NZ Limited


Forthill| Property Limited


Charter Hall| Funds Management Limited


Colonial Funds Management Limited


Fiducian| Investment Management Services Limited


Wellington Management Company LLP


BGS Trustee Limited (Beca)


NZAS Retirement Fund Trustee Limited


Smartshares| Limited


Suncorp New Zealand


Work highlights


  • Advised Smartshares on the acquisition of the management rights in relation to the ASB Superannuation Master Trust from ASB Group Investments.
  • Advised Kiwi Group Holdings on the sale of the Kiwi Wealth business (which includes acting as the licensed manager of a KiwiSaver scheme) to Fisher Funds for NZ$310m.
  • Advised Betashares Capital in relation to obtaining a Managed Investment Scheme licence for its New Zealand entity Betashares Capital NZ.

DLA Piper New Zealand

DLA Piper New Zealand remains a popular choice among clients thanks to its ‘deep knowledge in funds management and superannuation’, and its ability to combine ‘excellent technical skill’ with a ‘pragmatic’ approach. With significant transactional and regulatory expertise, the practice leverages the capabilities of the firm’s litigation, tax and employment teams to provide clients a comprehensive service. The team is jointly led by Wellington-based partners Alasdair McBeth and Rachel Taylor. McBeth specialises in new and innovative investment products and start-ups, and strategic issues, while Taylor is a key port of call for fund managers, listed companies and public issuers, trustees and other corporates, providing specialist advice on the design of new products. The ‘excellent’ Tom Barnes was promoted to the partnership in July 2023 and is praised for his ‘understanding of the funds management regulatory environment’.

Practice head(s):

Alasdair McBeth; Rachel Taylor


Other key lawyers:

Tom Barnes


Testimonials

‘Deep domain knowledge in funds management and superannuation. Alongside their excellent technical skill, the DLA Piper team are always helpful, pragmatic, and demonstrate a commercial perspective that is so important to achieving a successful outcome for me as client. ’

‘Tom Barnes and Alastair McBeth are terrific. Responsive, well networked and client focused. Deeply trustworthy and proactive in watching out for client needs.’

‘The key DLA Piper staff that we work with (predominantly Rachel Taylor) stand out due to their responsiveness and ease of dealing with. They are always happy to help and turnaround requests in a timely manner. They provide pragmatic advice that balances commerciality with compliance.’

‘Alasdair McBeth and Tom Barnes are two DLA Piper partners who have delivered particularly successful outcomes through a number of fund management matters. A combination of deep knowledge of the relevant financial services law, a pragmatic and commercially aware approach, and good industry and regulator relationships have been key to their success. ’

‘Tom Barnes’ understanding of the funds management regulatory environment and responsiveness is exceptional. He is an excellent investment funds lawyer, one of the best in the industry in fact. His recent promotion to partnership is very well deserved. Overall, we receive great service from DLA Piper.’

‘A very experienced and diverse team that stays close to our business and provides regular updates, newsletters and in-person training sessions.’

‘We work closely with Alasdair Macbeth, Tom Barnes and Rachel Taylor. All are top-notch operators and experts in the Investment funds space. I have worked with them for many years. They are always responsive and approachable.’

‘The DLA Piper team stand out due to the breadth of their knowledge of the financial services sector in NZ. They represent a wide variety of clients in the sector and can utilise their knowledge and work with other clients to provide up to date and relevant advice.’

Key clients

Select Wealth


Marsh Limited


Bank of China


Russell Investments Limited


Allianz Australia Insurance Limited


Pinnacle Investment Management Pty Limited


MMC Limited


Milford Asset Management


AON New Zealand


Fisher Funds


Steadfast New Zealand Limited


Steadfast Agencies Australia


Clarity Limited


Tower Limited


Public Trust


The New Zealand Guardian Trust Company Limited


Trustees Executors Limited


Covenant Trustee Services Limited


Perpetual Trust Limited


Chubb Insurance PSC Connect


BizCover Limited


Fidelity Life Assurance


Government Superannuation Fund Authority


Ngāti Whātua Ōrākei Whai Rawa Limited


Flint Wealth Limited


Britannia Financial Services Limited /IOOF


Bank of New Zealand Officers Provident Association


Medical Assurance Society


i-Select Limited


Booster Financial Services Limited


Forsyth Barr Funds Management Limited


Smartshares Limited


Implemented Investment Solutions (now called FundRock NZ)


Hongkong and Shanghai Banking Corporation Limited


Simplicity NZ Limited


Board of Cook Islands Superannuation Fund


AMP Financial Services (NZ) Limited/ AMP Capital Investors (NZ) Limited


Harbour Asset Management Limited


Investment Services Group


Kōura Wealth


360 Capital


Antipodes Partners


Du Val Group


Consilium NZ Limited


Aurora Financial and Aurora Capital


Lyxor International Asset Management


Pengana Capital Group Limited


Natixis Investment Management Australia


Coolabah Capital Investments


Trilogy Funds Management Limited


LGT Capital Partners (Australia) Pty Ltd.


Macquarie Asset Management


PIMCO


Board of Trustees of the National Provident Fund


Annuitas Management Limited


Trustees of the Reserve Bank Staff Superannuation Scheme


Trustees of the Mobil Superannuation Scheme


Apex Investment Administration (NZ) Limited


AIA


Trustees of the Maritime Retirement and KiwiSaver Schemes


FireSuper Superannuation Scheme


Police Superannuation Scheme


The New Zealand Defence Force Superannuation Scheme


Presbyterian Church Property Trustees


Presbyterian Church Beneficiary Fund


Methodist Church Superannuation Scheme


Generate Investment Management Limited


DLA Piper International


Fox Plan


Work highlights


  • Acting for Macquarie Asset Management in the sale of its New Zealand asset management business to Mercer (N.Z.).
  • Acting for the shareholders of Implemented Investment Solutions in the sale of all the shares in Implemented to Apex Fund Services (NZ).
  • Acting for DLA Piper International on behalf of global clients requiring jurisdictional or cross-border involvement and input.

MinterEllisonRuddWatts

Praised for its ‘depth of knowledge’ and ‘incredibly pragmatic’ approach, MinterEllisonRuddWatts houses a well-regarded transactional and regulatory financial services and investment funds practice. The team acts for a diverse roster of clients and fields an excellent reputation for its work in the fintech and cryptocurrency spaces, publishing extensively and acting for leading businesses in these fields. The team is jointly led by Auckland-based partners Lloyd Kavanagh and Jeremy Muir. Kavanagh, highlighted by a client as ‘the leading investment funds lawyer in New Zealand’, acts for clients on investment funds, financial services regulation and corporate governance, while Muir is noted for his focus on the fintech sector. Associate Bryan Ventura works at the forefront of developing financial services technology and regularly advises on M&A and general corporate law.

Practice head(s):

Lloyd Kavanagh; Jeremy Muir


Other key lawyers:

Byran Ventura; Zena Razoki


Testimonials

‘MinterEllisonRuddWatts is a prominent law firm in New Zealand and is known for providing excellent client service.’

‘Lloyd Kavanagh is the leading investment funds lawyer in New Zealand and is always front of mind when we need someone to provide advice on the highly technical or difficult projects. Lloyd has an ability to quickly understand complex details, yet provides pragmatic and commercial advice as he truly understands the business we operate in.’

‘They have a highly experienced team and are a full service firm. Very pragmatic and business oriented. They are across the latest developments in all areas of business and run a strong educational programme for clients. They are very quick to respond to requests and if I require something outside of office hours they are incredibly flexible and always help out.’

‘Lloyd Kavanagh has been a great help to me. He has outstanding business sense built over many years working in NZ and overseas. He still seems to love what he does and so has a lot of intellectual curiosity and is always wanting to explore new developments.I have found Lloyd to be excellent to work with. I always would look to go to him with any challenging and mission critical issues.’

‘They are incredibly practical – they understand the limitations of the law and how it can be implemented in small firms as well as large global firms.’

‘Very approachable and down to earth, which is impressive given the subject matter expertise they have. Lloyd Kavanagh is incredibly generous with his time and dedication to getting the details right so that a law change is well implemented. ’

‘Incredibly responsive, the MERW team provide clear, understandable advice in a timeframe which enables agile client interactions. What we particularly like is that rather than a single response we are given options, with a risk assessment for each, as to how we can rectify specific situations.’

‘Depth of knowledge from other jurisdictions and experience across the local market.’

Key clients

Dai-ichi Life Holdings


Futureverse Hold Co Limited


Sharesies Limited


DFA Australia Limited


Funds Administration New Zealand Limited


Debut Limited


Paytron Technologies Pty Ltd


ANZ Bank New Zealand Limited


Blackstone Inc


Milford Asset Management


Work highlights


  • Advising Dai-ichi Life on the New Zealand corporate and financial services regulatory aspects of its NZ$1bn acquisition of Partners Life.
  • Advising Sharesies (New Zealand’s fastest-growing investment platform) on the design and establishment of its new KiwiSaver scheme offering.
  • Advising Blackstone on the NZ aspects of its strategic partnership with Resolution Life.

Bell Gully

Bell Gully stands out as a strong choice for a diverse range of clients, including domestic banks, fund managers, trustee companies, superannuation schemes, listed property funds and investment platforms, which turn to the team for its wide-ranging capabilities in fund formation and transactional and advisory work. The team is spearheaded by Haydn Wong in the Auckland office, and is a key port of call for a variety of New Zealand’s largest fund managers and supervisors on fund management, KiwiSaver, superannuation and insurance matters. The Wellington office is home to Amon Nunns, who is routinely engaged in complex transactions. Katie Dow is noted for her specialism in managed funds products and financial services law.

Practice head(s):

Haydn Wong


Other key lawyers:

Amon Nunns; Katie Dow


Key clients

AMP


ANZ Bank


Craigs Investment Partners


The New Zealand Guardian Trust Company Limited


Suncorp / Asteron


Covenant Trustee Services Limited


First State Investments


Guardians of New Zealand Superannuation


Stride Property Limited


Pearlfisher Capital


NZ Financial Services Group Limited


Mercury Capital


NZ Funds


Vital Healthcare Property Trust


AMP Haumi Management Limited


Work highlights


  • Advising Craigs Investment Partners on its managed investment schemes.
  • Advising Guardian Trust on a range of activities in relation to its role as supervisor of managed investment schemes.
  • Acted for NorthWest Healthcare Properties Management as manager of Vital Healthcare Property Trust on Vital’s $200m equity capital raising by a pro-rata accelerated entitlement offer.

Dentons New Zealand

Dentons New Zealand houses a ‘very supportive and capable team’, noted for its expertise in managed funds, superannuation and assisting offshore funds in relation to New Zealand investments. Counting public entities, fund managers and banks among its key clients, the team is known for its work with clients in the fintech area, with a particular focus on digital financial advice. The practice is jointly steered by Wellington-based partners Catriona Grover and David Ireland. Grover specialises in investment funds, including KiwiSaver, managed funds and superannuation schemes, while Ireland, noted for his ‘excellent technical advice’, is regularly engaged by both large and boutique providers of investment funds and investment management services. Senior associate Mark Schroder has extensive experience in funds management and financial services law.

Practice head(s):

Catriona Grover; David Ireland


Other key lawyers:

Mark Schroder


Testimonials

‘Advice is tailored to the client and includes more than just legal interpretation. Advice takes into account relevant guidance and benefits from the team’s industry knowledge and experience. Timeframes are clearly articulated and realistic. Advice is clearly written and digestible. Communication is proactive.’

‘All the team members are approachable and personable. They feel like they are there to help you achieve what you need to. Special mention to Catriona Grover, David Ireland and Mark Schroder.’

‘Very supportive and capable team. Juniors on the team are very capable. Feel they understand my pressures and offer pragmatic advice.’ 

‘David Ireland is very supportive and pragmatic. Excellent technical advice and able to understand our business. He is able to work with us on technical matters to help the business work through them.’

Key clients

Kiwi Wealth Limited


ANZ Bank New Zealand Limited


Mercer (N.Z.) Limited


AMP Wealth Management New Zealand Limited


Roger Dickie (N.Z.) Limited


Equity Trustees Limited


Civic Financial Services Limited (‘Civic’) / Local Government Superannuation Trustee Limited


Te Rūnanga o Ngāi Tahu (‘ Ngāi Tahu ’)/ Whai Rawa Fund Limited


Consilium NZ


Kernel Wealth Limited


Funds Administration New Zealand Limited (FANZ)


The New Zealand Guardian Trust Company Limited


Manchester Unity Friendly Society


Wealthpoint Limited


Work highlights


  • Advised Mercer on its takeover of the manager role for Macquarie Investment Funds, previously managed by AMP Capital Investors.
  • Provided extensive support on all aspects of the formation of the new Kernel KiwiSaver Plan.
  • Assisted Carbonz with all aspects of the establishment of the exchange for the trading of voluntary carbon credits.

Russell McVeagh

Russell McVeagh‘s funds management practice is frequently instructed by fund managers, trustees, financial advisers, custodians and employers on a host of regulatory and transactional mandates. The team possesses the capabilities to advise on the establishment, operation, restructure and wind up of funds and investment schemes, and to assist clients in the development and design of schemes. In the Auckland office, practice head Dan Jones is noted for his experience advising clients on a broad range of issues facing managed and sovereign funds. Special counsel Sarah McQueen is recommended for her specialist knowledge in managed funds, superannuation and insurance law.

Practice head(s):

Dan Jones


Other key lawyers:

Sarah McQueen


Key clients

Fisher Funds


New Zealand Private Debt Management


New Zealand Government Funding Agency


Work highlights


  • Assisted Fisher Funds on its high-profile, high-value purchase of Kiwi Wealth for NZ$310m.
  • Advised New Zealand Private Debt Management (a subsidiary of Private Capital Group) in establishing one of New Zealand’s first domestic private credit funds.
  • Advised Fisher Funds on the transfer of members from the Aon KiwiSaver Scheme to the Fisher Funds Two KiwiSaver Scheme.

Anthony Harper

Anthony Harper draws considerable praise from clients, which turn to the ‘very capable and efficient’ team for its ‘commercially aware and strong knowledge in the New Zealand financial regulatory space’. Property-related investment funds is the flagship component of the team’s work, and it is regularly instructed by boutique providers as well as new market entrants. The practice is spearheaded by Auckland-based partner Nick Summerfield, who advises on all areas of financial services law, covering investment funds, insurance, capital markets, investment management services and financial service provider regulation.

Practice head(s):

Nick Summerfield


Other key lawyers:

Chloe Jolliffe


Testimonials

‘The team at Anthony Harper are very knowledgeable and helpful.’

‘Relatable, understanding, helpful.’

‘Practical understanding of dealing with regulators.’

Key clients

AIA New Zealand


Westpac New Zealand Limited


Milford Asset Management Limited


Mercer (N.Z.) Limited


New Zealand Funds Management Limited


Pie Funds Management Limited


Kernel Wealth Limited


Silverfin Capital Limited


Mainland Capital Limited


Sustainable Property Holdings Limited


Flexewallet (NZ) Limited


First Credit Union Incorporated


First Mortgage Managers Limited


Midlands Funds Management Limited


Rockfort Markets Limited


CTRL Investments Limited


BetterSaver Limited


First Insurance Limited


Public Trust


Covenant Trust Services Limited (Tricor)


Trustees Executors Limited


Work highlights


  • Advising AIA New Zealand on its conduct licensing project, which will include consultation and business impact/gap analysis.
  • Advised First Credit Union on two separate transfers of engagements.
  • Provided strategic advice to Midlands Funds Management Limited on its growth goals, including launching a PIE Fund.

Lane Neave

Based across the Auckland, Wellington, Christchurch and Queenstown offices, Lane Neave‘s ‘very client-driven’ team has demonstrable experience in structuring and establishing managed investment schemes. Following the departure of Claire Evans, who left the firm alongside Joelle Grace, new partner hire Aaron Pickett takes on the role as practice head. Pickett is noted for his expertise in private M&A, joint ventures, private equity investments and matters related to start-ups. Andrew Comer also joins the ranks. Carlo Wan specialises in all aspects of financial services, financial markets and regulatory matters.

Practice head(s):

Aaron Pickett


Other key lawyers:

Carlo Wan; Andrew Comer; Alex Stone; Peter Ko


Testimonials

‘Carlo is our first point of contact. He always responds quickly, and helps to liaise with other team members if the request is out of his area. Peter Ko helps us on the settlement. He is very professional and quick as well. We do not need to worry if it is an urgent settlement.’

‘The team is very client-driven. They are very thorough and ensure their advice is well thought through.’

‘Alex Stone is patient and explains the issue well, especially in the more difficult areas in which we seek advice. He has a good network to resolve a problem if it is not in his primary area of expertise.’

Key clients

Williams Corporation Limited


Williams Corporation Capital Limited


Williams Corporation Capital Partnership LP


GreenMount Capital NZ Limited


Syft Technologies Limited


Pegasus Health (Charitable) Limited


Zincovery Process Technologies Limited


Hashbane Interactive Limited


Covenant Trustee Services Limited


Work highlights


  • Acted for leading New Zealand property developer Williams Corporation and its group entities in respect of its approx. $135m wholesale finance and managed investment scheme offerings.
  • Acted for New Zealand recycling technology company Zincovery Process Technologies in its $3m seed-round capital raise.
  • Acted for private equity fund manager GreenMount Capital NZ in respect of its minority investment in Jucy Rentals.

PwC Legal New Zealand

PwC Legal New Zealand draws on a wide range of services to provide ‘comprehensive and well-rounded solutions that cover various aspects of its client’s investment strategies'. Highlighted for its ‘responsive, proactive, personable and commercially astute’ approach, the team is frequently instructed by multinationals, investment managers, supervisors and start-ups from a wide range of sectors. The Christchurch office is home to new partner arrivals Claire Evans and Joelle Grace, who both join from Lane Neave. Evans, praised for her ‘unparalleled experience’ and ‘strong technical knowledge in M&A and investment funds’, is active in limited partnership and investment fund matters, while Grace, noted as a ‘strong operator’, is recommended for her work in M&A, business advisory and corporate governance matters. Auckland-based practitioner Tom Logan is also noted.

Practice head(s):

Claire Evans; Joelle Grace; Tom Logan


Other key lawyers:

Mike Crawford


Testimonials

‘PwC Legal New Zealand’s Investment funds practice has a commendable collaborative ethos. They draw on the diverse expertise within PwC’s extensive network to offer comprehensive and well-rounded solutions that cover various aspects of their client’s investment strategies. This integrated approach ensures that clients receive holistic and forward-thinking perspectives beyond just legal advice.’

‘Claire’s unwavering commitment to providing comprehensive and appropriate advice on limited partnerships and investment funds sets her apart from competitors and inspires unwavering confidence in the firm’s capabilities. Her expertise in financial services, mergers and acquisitions, and corporate contracts establishes her as a leading force in the industry.’

‘They have a fantastic team with full “wrap around” coverage. They are responsive, proactive, personable and commercially astute.’

Key clients

NetX Fund


Candelic Group


Futureverse Corporation Limited


HealthNow


Mytona Limited


Work highlights


  • Advised Futureverse Corporation (an NFT and blockchain technology business) in relation to a series of roll-up and investment transactions.
  • Advised Centrality on its establishment of the NetX Fund, a global tech VC fund with a focus on crypto, blockchain, AI and other emerging technologies.
  • Advised Holmes Solutions on the establishment of its limited partnership joint venture and its subsequent capital raise from an offshore investor.