Quadrant Private Equity is ceding control of Summerset Group Holdings after agreeing to sell 40 million shares in the retirement village operator through brokerage UBS New Zealand. The sale amounts to 18.6 percent of the shares of Summerset, leaving the buyout firm with 37.2 percent of the company. Quadrant’s QPE Funds Management unit “remains a significant shareholder in Summerset and …

The New Zealand dollar fell at the open after Cyprus delayed a vote on austerity measures that are part of a 10 billion euro bailout devised by euro zone finance ministers and would result in the island’s depositors losing some of their savings. The kiwi dollar fell to 82.29 US cents from 82.72 cents in late New York trading on …

Pencarrow Private Equity, whose past investments have included paper merchant BJ Ball and buggy maker Phil & Teds, is keeping an eye on ways to leverage the $30 billion rebuild of Christchurch having raising $124 million for its new fund. The private equity firm has already run the ruler over 60 companies for its Pencarrow IV Fund to invest in …