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A unique way to invest in private businesses
The best of both worlds: cash yield & long-term capital growth
We buy Kiwi businesses based on real cashflow not pipe dreams
Castlerock is an open-ended income oriented private equity fund that invests for the long term.
We invest with the philosophy of owning stable, established, well-managed businesses that have a history of strong performance and the ability to continue to grow. We work collaboratively with management teams, and other shareholders and stakeholders, to grow and sustain the success of our portfolio companies. Since inception in 2017, Castlerock investors have enjoyed average returns of 14.6% per annum over the life of the fund through a combination of quarterly cash distributions and capital growth.
Castlerock is a private business investment fund – designed with the needs of wholesale investors in mind

Get the best of both worlds

Castlerock targets both cash yield and long-term capital growth. We target an 8.0% return on the fund’s value each year. Since inception in 2017, we have provided investors with total returns of 14.6%, made up of a 10.6% cash IRR and 4.1% annualised capital growth. Returns may vary and are not guaranteed.

Put your money straight to work

Unlike other private equity funds, at Castlerock we don’t buy businesses to build and then sell. We select and partner with businesses that have already grown to the point where they can sustainably make distributions of profit to shareholders. This means, no matter when you invest, you’ll qualify to receive distributions alongside our current investors immediately. Castlerock has made distributions every quarter since inception in 2017, however distributions are not guaranteed and may vary.

Designed for wholesale, charity, and not-for-profit investors

In addition to providing exposure to a set of diversified NZ businesses, Castlerock aims to provide an investment with liquidity options, cash yield, a tailored tax structure and long-term capital growth.

Backed by a strong team

Castlerock is backed and managed by Bancorp, a leading Investment bank based in Auckland. A growing number of high-net-worth, family office, charitable trust and other wholesale and institutional investor groups have joined Bancorp and Castlerock’s leadership as investors. Day-to-day, Castlerock is managed by an experienced team, so you can be sure that you’ll be in good company.
Castlerock key metrics
Growing fund: now $35m+

Castlerock accepts new investment every quarter and currently manages more than $35 million.

Target: 8.0%+ cash return

Each year, Castlerock aims to provide investors quarterly distributions targeting an 8.0% cash return each year. Since inception, our quarterly distributions have provided original investors a 10.6% IRR* (in addition to any capital growth).

Strong delivery: 14.6% IRR*

Over the life of Castlerock’s fund, it has delivered a 14.6% IRR to investors through a mixture of cash distributions and capital growth.

* Annualised cash and total returns are calculated using an internal rate of return (IRR) formula which considers the amount and timing of cash flows (share purchases and redemptions, and cash distributions) and the Castlerock share price at the time of the calculation. Capital growth reflects the growth in share value over time (and is the difference between total and cash returns). The returns presented above cover the period from 1 October 2017 (when Castlerock launched to external investors) to 31 March 2022. The cash IRR component of investor returns over this specific period was 10.6% of the overall 14.6% IRR.

Disclaimer: Cash distributions are not guaranteed and may not occur every quarter. Castlerock may not receive additional capital investment and may receive Share Sale Requests from investors. Past performance is not a reliable indicator of future performance. Castlerock’s future returns may vary materially from historic returns and have varied for investors depending on their entry and exit points.
Our Private Investment Portfolio

We buy Kiwi businesses based on real cashflow not pipe dreams

At Castlerock we aim to acquire profitable established businesses at the forefront of their sectors – we don’t invest in start-ups, venture-stage or capital-intensive businesses. We target businesses with a proven track record of strong management delivering high cash yields and growth opportunities.

Our portfolio currently contains four well-recognised businesses, and we are continually looking for potential new additions that meet our investment criteria.