The Maui Capital team have worked together for almost 10 years, making investments, working directly with management teams, raising funds and are now investing our third fund. Our first two funds which we set up, managed and invested (whilst employed at Goldman Sachs JBWere) were the Hauraki No. 1 and Hauraki No. 2 Funds. The Hauraki No. 1 and No. 2 Funds achieved gross returns of 4.9x and 4.0x (to date) and gross IRR’s of 75% and 60% (to date) respectively.
The Maui team has demonstrated a long track record of successful direct investment working alongside successful management teams. The Maui Capital Indigo Fund is a continuation of the same executive team and same investment modus operandi as developed during the management of the Hauraki Funds.
Current Investments
Maui Capital Indigo Fund (2008)
Previous Investments
Hauraki No. 1 Fund (2002)
| Investment | Cash In ($m) | Cash Out ($m) | % Owned |
Times Capital | IRR |
| Hirepool | 5.5 | 57.2 | 51.0% | 10.3 x | 132% |
| Tiri Group | 8.0 | 28.0 | 100.0% | 3.4 x | 42% |
| Cadmus Technology | 1.0 | 2.3 | 8.9% | 2.3 x | 65% |
| Guardian Healthcare | 5.0 | 8.6 | 7.8% | 1.7 x | 65% |
| Total | 19.5 | 96.1 | 4.9 x | 75% |
Hauraki No. 2 Fund (2004)
| Investment | Cash In ($m) | Cash Out ($m) | % Owned |
Times Capital | IRR |
| Norfolk Group | 21.3 | 215.8 | 95.0% | 10.1 x | 123% |
| Kathmandu | 22.5 | 75.5 | 25.5% | 3.3 x | 40% |
| BildNZ | 7.5 | 0.0 | 51.0% | 0.0 x | NA |
Unrealised |
|||||
| Vision Senior Living | 20.0 | 28.5% | |||
| Total | 71.3 | 291.3 | 4.1 x | 60% | |
