Pencarrow Private Equity is pleased to announce that Pencarrow V Investment Fund LP (Fund V) has acquired a ~9.2% stake in Avanti Finance Limited (Avanti or the Company).
Avanti is a leading New Zealand non-bank lending institution that provides a range of consumer loan products. Since its establishment in 1989 the Company has provided secured personal and motor vehicle loans and, more recently, has diversified into providing first residential mortgages and small-to-medium enterprise loans. The Company has grown rapidly over the past five years, achieving a Compound Annual Growth Rate on its loan receivables book of ~50%.
Avanti has a very experienced leadership team, led by the Company’s founder and Chairman Glenn Hawkins and its Chief Executive, Mark Mountcastle. Pencarrow is excited to be working with Glenn, Mark and the rest of the senior management team to continue the Company’s rapid growth.