About

Pencarrow has been helping New Zealand businesses achieve their goals for over 25 years. We have a highly collaborative approach to investment, partnering with management and shareholders across a broad range of industries. 

We have a team of seven investment professionals who bring a diverse range of skills from previous experiences in private equity, corporate finance, investment banking, governance and operational management. 

 

Meet the team

Rod 03h

Rod Gethen

Managing Partner

Rod is a Managing Partner of Pencarrow and has over 30 years' experience in investment management, acquisitions, divestments, valuation and corporate advisory and restructuring. Prior to joining Pencarrow in 1994, Rod worked in Auckland, Sydney and London within the corporate finance practices of Deloitte and PwC and is a qualified Chartered Accountant.

Rod is currently on the boards of Umbrellar, BeGroup, Mix and The Collective.

gethen@pencarrowpe.co.nz

+ 64 (0)4 917 0118

PENCARROW PQ Profiles 04

Nigel Bingham

Managing Partner

Nigel is a Managing Partner of Pencarrow and has more than 25 years’ experience in private equity, mergers & acquisitions and corporate finance. Prior to joining Pencarrow in 2005, Nigel was a partner with investment bank, Cameron Partners, and earlier an executive at Fay, Richwhite. Nigel has a BSc (Hons) First Class in Statistics, an MSc with Distinction in Mathematics and a Diploma of Business Studies in Finance and is a council member of the New Zealand Private Equity & Venture Capital Association.

Nigel is currently on the boards of Seequent, MMC and Netlogix.

bingham@pencarrowpe.co.nz

+ 64 (0)4 917 0116

johnathan

Jonathan Goldstone

Partner

Jonathan is a Partner at Pencarrow and has managed a number of the investments in the funds. Previously with Morgan Stanley, he advised on the structuring and execution of mergers, acquisitions, divestments and capital markets transactions. He commenced his career with UBS’s investment banking division, working in both Auckland and New York. Jonathan holds Bachelor and Master of Commerce (First Class Honours) degrees from the University of Auckland.

Jonathan is currently a director of Netlogix, Seequent, Umbrellar and The Collective.

goldstone@pencarrowpe.co.nz

+64 (0)21 656 345

Philippa 08e

Philippa Weston

Investment Director

Philippa is an Investment Director at Pencarrow and has over 15 years' experience in investment management, including strategic planning, corporate governance, operational and financial management. Prior to joining Pencarrow in 2012, Philippa was Head of Investments at Kiwibank, where she led the successful acquisition of Gareth Morgan Investments and was previously AMP Capital Investors’ Chief Operating Officer. Philippa is a qualified lawyer, and holds a Bachelor of Laws and a Bachelor of Commerce and Administration.

Philippa is currently a director of BeGroup, solarcity New Zealand, Mix and MMC.

weston@pencarrowpe.co.nz

+64 (0)4 917 0117

hazel

Hazel Martin

Investment Manager

Hazel is an Investment Manager at Pencarrow. Hazel commenced her career in the Corporate Finance team at PwC in Wellington and has since worked in London taking roles in the private equity industry, John Lewis and the Walt Disney Company. Hazel holds a Bachelor of Laws (Hons), a Bachelor of Commerce and is a CFA charterholder.

martin@pencarrowpe.co.nz

+64 (0)204 123 2482

Pencarrow 2018 Geoff Romijn 02

Geoff Romijn

Investment Manager

Geoff is an Investment Manager at Pencarrow. He commenced his career in the Corporate Finance team at Deloitte in Wellington before working in London with corporate finance roles at Colt Technology Services and United Biscuits. He rejoined Deloitte upon returning to Wellington from London. Geoff holds a Bachelor of Commerce and Administration (First Class Honours) from Victoria University of Wellington and is a CFA charterholder.

romijn@pencarrowpe.co.nz

+64 (0) 27 326 5034

Pencarrow 2018 Alex Perry 5

Alex Perry

Investment Analyst

Alex is an Investment Analyst at Pencarrow. He began his career in the Corporate Finance team at PwC, gaining experience in M&A, due diligence, valuations and financial modelling. Alex holds a Bachelor of Commerce (First Class Honours) in Finance and Economics from Victoria University of Wellington.

perry@pencarrowpe.co.nz

+64 (0) 27 716 1904

Pencarrow 2018 Lloyd Percival 02

Lloyd Percival

Finance Manager

Lloyd is Pencarrow's Finance Manager and is responsible for Pencarrow’s corporate activities, fund administration and investor relations. Lloyd joined Pencarrow in August 2018 and has 10 years of management and financial accounting experience within the financial services sector. His most recent positions were with BNP Paribas Securities and the Investment’s team at ACC. Lloyd has a Graduate Diploma (Accounting) along with a Bachelor of Commerce and Administration from Victoria University and is a Chartered Accountant. Lloyd takes over from Leah Anderson from September 2018. 

percival@pencarrowpe.co.nz

+64 (0) 21 438 850

Rod is a Managing Partner of Pencarrow and has over 30 years' experience in investment management, acquisitions, divestments, valuation and corporate advisory and restructuring. Prior to joining Pencarrow in 1994, Rod worked in Auckland, Sydney and London within the corporate finance practices of Deloitte and PwC and is a qualified Chartered Accountant.

Rod is currently on the boards of Umbrellar, BeGroup, Mix and The Collective.

gethen@pencarrowpe.co.nz

+ 64 (0)4 917 0118

Nigel is a Managing Partner of Pencarrow and has more than 25 years’ experience in private equity, mergers & acquisitions and corporate finance. Prior to joining Pencarrow in 2005, Nigel was a partner with investment bank, Cameron Partners, and earlier an executive at Fay, Richwhite. Nigel has a BSc (Hons) First Class in Statistics, an MSc with Distinction in Mathematics and a Diploma of Business Studies in Finance and is a council member of the New Zealand Private Equity & Venture Capital Association.

Nigel is currently on the boards of Seequent, MMC and Netlogix.

bingham@pencarrowpe.co.nz

+ 64 (0)4 917 0116

Jonathan is a Partner at Pencarrow and has managed a number of the investments in the funds. Previously with Morgan Stanley, he advised on the structuring and execution of mergers, acquisitions, divestments and capital markets transactions. He commenced his career with UBS’s investment banking division, working in both Auckland and New York. Jonathan holds Bachelor and Master of Commerce (First Class Honours) degrees from the University of Auckland.

Jonathan is currently a director of Netlogix, Seequent, Umbrellar and The Collective.

goldstone@pencarrowpe.co.nz

+64 (0)21 656 345

Philippa is an Investment Director at Pencarrow and has over 15 years' experience in investment management, including strategic planning, corporate governance, operational and financial management. Prior to joining Pencarrow in 2012, Philippa was Head of Investments at Kiwibank, where she led the successful acquisition of Gareth Morgan Investments and was previously AMP Capital Investors’ Chief Operating Officer. Philippa is a qualified lawyer, and holds a Bachelor of Laws and a Bachelor of Commerce and Administration.

Philippa is currently a director of BeGroup, solarcity New Zealand, Mix and MMC.

weston@pencarrowpe.co.nz

+64 (0)4 917 0117

Hazel is an Investment Manager at Pencarrow. Hazel commenced her career in the Corporate Finance team at PwC in Wellington and has since worked in London taking roles in the private equity industry, John Lewis and the Walt Disney Company. Hazel holds a Bachelor of Laws (Hons), a Bachelor of Commerce and is a CFA charterholder.

martin@pencarrowpe.co.nz

+64 (0)204 123 2482

Geoff is an Investment Manager at Pencarrow. He commenced his career in the Corporate Finance team at Deloitte in Wellington before working in London with corporate finance roles at Colt Technology Services and United Biscuits. He rejoined Deloitte upon returning to Wellington from London. Geoff holds a Bachelor of Commerce and Administration (First Class Honours) from Victoria University of Wellington and is a CFA charterholder.

romijn@pencarrowpe.co.nz

+64 (0) 27 326 5034

Alex is an Investment Analyst at Pencarrow. He began his career in the Corporate Finance team at PwC, gaining experience in M&A, due diligence, valuations and financial modelling. Alex holds a Bachelor of Commerce (First Class Honours) in Finance and Economics from Victoria University of Wellington.

perry@pencarrowpe.co.nz

+64 (0) 27 716 1904

Lloyd is Pencarrow's Finance Manager and is responsible for Pencarrow’s corporate activities, fund administration and investor relations. Lloyd joined Pencarrow in August 2018 and has 10 years of management and financial accounting experience within the financial services sector. His most recent positions were with BNP Paribas Securities and the Investment’s team at ACC. Lloyd has a Graduate Diploma (Accounting) along with a Bachelor of Commerce and Administration from Victoria University and is a Chartered Accountant. Lloyd takes over from Leah Anderson from September 2018. 

percival@pencarrowpe.co.nz

+64 (0) 21 438 850

Our History

Founded in 1993, Pencarrow is one of the most experienced private equity managers in New Zealand. Since its founding the firm has invested over $500 million of equity capital in mid-sized New Zealand businesses. 

Pencarrow is currently investing from the Pencarrow V Investment Fund LP, which reached its first and final close in April 2018, and comprises $250 million in committed capital.  

We have a proven track record of delivering strong returns in a range of economic conditions and portfolio cycles. Our investors include high net worth individuals, family offices, iwi, community trusts and institutions. We pride ourselves on providing an extremely high degree of transparency to our investors.

PH snip

hexagon 2018

Fund V

$250 million - Partially deployed

hexagon 2017

Bridge Fund

$80 million - Fully deployed as at April 2018

hexagon 2011

Fund IV

$124 million - Fully Deployed in 2015

hexagon 2005

Fund III

$75 million - Fully Realised in 2016

hexagon 1998

Fund II

$138 million - Fully Realised in 2015

hexagon 1993

Fund I

$25 million - Fully Realised in 2007