| Decision | Consent Granted |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 10 February 2025 |
| Pathway | Significant business assets |
| Investment | Acquisition of securities and controlling interest in FNZ Group Limited |
| Consideration | $1,191,692,203 |
| Applicants | Falcon Newco Limited Acacia Holdings L.P. |
| Vendor | FNZ Group Limited |
| Background | FNZ Group Limited (FNZG) and its subsidiaries (together, the FNZ Group) are a global financial services business that provides investment platforms to major financial institutions. The Applicants are investment vehicles for five existing institutional shareholders who have committed further capital of USD 700 million to FNZ Group to support its on-going success. As part of such further capital commitment, the Applicants and/or the relevant shareholders’ investment vehicles may subscribe for certain warrants issued by FNZG, representing a new class of security in FNZG. In connection with the further capital commitment, the shareholders of FNZG have agreed to certain amendments to the governance rights in respect of the board of directors of FNZG, which will result in an increase of the Applicants’ combined control interest in FNZG. The investors include non-New Zealand government investors from Canada and Singapore. Consent was granted as the Applicants have met the investor test criterion. The Minister of Finance has decided that the investment is not contrary to New Zealand’s national interest. |
| More information | Glenn Shewan |