Origin Capital Fund 1

Origin Capital Fund 1 Overview

Origin Capital Fund 1 – The Kiwifruit Fund (“Fund 1”) is made up of 153 investors, with $85m (NZD) of committed capital. Fund 1 has a mandate to invest exclusively in the SunGold variety.

Fund 1 was raised with a simple value proposition – to provide an entry point for investment into a strong, stable and sustainable sector managed by an experienced and connected team with a track record of operational excellence, enabling consistent returns from land assets at above industry average levels. Our representation to investors was that a committed fund is the optimum vehicle structure for investment in the kiwifruit sector, as it provides benefits of scale, diversity and the ability to move quickly to acquire the right investments.

That value proposition promised has been delivered in the Fund’s first year:

• To date the Fund has invested in nine high quality kiwifruit orchards throughout Kerikeri, Bay of Plenty and Gisborne, comprising 102 canopy hectares in total. The Fund is now 95% deployed;

• The Fund is now Zespri’s 11th largest shareholder;

• The Fund paid its first distribution to investors six months after closing, a total of $3.0m in December; and

• The Fund delivered a return of 25% to investors in its first financial year.