About PFC
What we do
Pearlfisher Capital is an established non-bank finance provider to the New Zealand property finance sector, providing a full range of secured debt and equity funding facilities for small and large property clients.
Pearlfisher is a recognised market participant, with extensive relationships, broad sector knowledge and the track record and experience to provide well-structured facilities with consistent risk weighted returns managed on behalf of its private wholesale and institutional investors.
Pearlfisher is also an active investor, co-investing alongside its investors, providing an alignment of interests and an ongoing commitment to the hands-on management ethos which underpins Pearlfisher’s success.
Leading New Zealand investment banking firm Jarden, became a joint venture partner in January 2017 and remains a 25% shareholder, bringing corporate strength to brand, a long-term commitment to the business and the non-bank finance sector where it sees significant growth opportunities.
Who we are
Pearlfisher was founded in 2009 and continues today to be run by an executive management team that remain significant shareholders of the business.
We are a small team, with shareholder and director on-the-ground presence. The Pearlfisher team (including support from within the wider group) provides enhanced investor support, strong governance and compliance backing and an inhouse administration service that enables the executives and senior management to focus on origination and risk mitigation.
The Pearlfisher Executive Board and management team have long standing market experience and skills beyond our core competency as lenders and include a comprehensive range of Property and Finance related services.
Our Values
Pearlfisher values its open book dialogue with clients, investors and brokers, honesty in all facets of its operations, diligence in meeting key criteria compliance and governance, respect for the needs of others, a determination to strive for excellence and the tenacity and flexibility to see the completion of its funded projects.
Our Goals
Pearlfisher's goals are to be the market leader for non-bank property investment opportunities and provide continued and sustainable investment returns through all market cycles.
Pearlfisher has experienced continued growth over recent years and considers its market presence and performance to be a strong catalyst for increased demand from borrowers and investors alike.
During the past 12 months, Pearlfisher have settled over $100 million of well qualified transactions for both new and concluding developments, including considerable recycling of existing investors' capital.
Our Structure
Shareholders
In 2017, Pearlfisher formed a joint venture with Jarden in the property finance sector allowing us to take advantage of the strong development cycle and consider a wider range of projects in a climate when the major banks are increasingly constrained by capital adequacy rules, compliance and tightening credit criteria.
Jarden is a leading full service, wholly locally owned share broking and investment banking firm. Jarden has been in operation in the NZ market for more than 50 years as various operating entities, with a strategic alliance with Credit Suisse.
The Jarden joint venture strengthens Pearlfisher’s standing in the market and positions it to be able to consider more projects, including larger developments, at a time when there is a continued demand for property investment and development capital.
Since the establishment of the joint venture, Pearlfisher has experienced strong growth which has been the catalyst for co-investment alongside its private and institutional investors.
Management, Governance & Compliance
Pearlfisher Board – provides overriding corporate governance and compliance support to Pearlfisher Capital, including Board management, with the Pearlfisher Board represented in all co-investment credit decisions.
KPMG – undertakes a full financial and management audit of the Pearlfisher business on an annual basis. This provides an independent assessment of financial reporting and more importantly, ensures the management, systems and operations of the Pearlfisher business are constantly monitored and reviewed to maintain the highest standards.
AML – Pearlfisher maintains strict adherence to the requirements of The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) and meets all compliance and regulation as required under the act. This includes compliance approval of all new client and investor relationships, AML annual reporting and AML independent Audits.
Our People
Tony Abraham
Tony is a founding shareholder and director of Pearlfisher Capital. He has a Business Management Studies Degree in Accounting and Finance from Waikato University and a Postgraduate Diploma in Banking from Massey University.
Tony began his career at ASB Bank in New Zealand before joining Investment Banks Rabobank and Credit Suisse First Boston in the UK.
After having returned to New Zealand to start a family in 2002, Tony has focused solely on the property finance sector having held Senior Executive Management positions prior to establishing Pearlfisher Capital.
With over 20 years in Banking and Finance, Tony has developed considerable experience in transaction negotiation, structuring and portfolio risk management.
Jarrod Bruce
Jarrod is a founding director of Pearlfisher Capital and remains a key shareholder and director post-completion of the Jarden joint venture.
Jarrod practised as a registered valuer in New Zealand until 2001 after qualifying from the University of Auckland with a Bachelor of Property Administration and a Postgraduate Diploma in Finance.
Jarrod has had a career in the New Zealand Property Industry for over 20 years, covering a range of asset and tenure classes including a senior executive role in the Property Finance Sector, being responsible for the arrangement and management of a portfolio of debt securities within New Zealand and Australia, including the structuring of some of New Zealand's largest Land and Development transactions.
Chris Eade
Chris has gained valuable experience from his time spent working alongside property developers and from his various roles in the construction industry.
Prior to working at Pearlfisher Capital, Chris held roles at ANZ Bank in the property finance team, as well as Hawkins Construction and McConnell Property. In addition to these roles, Chris worked in the corporate finance and restructuring industry where numerous property related exposures were managed on behalf of Bank’s, through the Global Financial Crisis.
With nearly 10 years of property finance related experience and a practical understanding of delivering commercial developments, Chris brings a strong skill set to the team. Chris holds a double major in Finance and Management from AUT University.
John Mills
Prior to joining Pearlfisher, John worked for BNZ Property Finance, Bank of Scotland (International) Ltd and more recently with Colliers International managing their Commercial Property and Asset management division.
John has gained valuable experience throughout his career in the New Zealand property industry working alongside Property Developers, Investors and Landlords assisting them with their debt requirements and manging their portfolios across various asset classes.
John holds a Bachelor of Business studies degree from Auckland University of Technology with a double major in Management and Marketing.
Rory Beashel
Prior to joining Pearlfisher, Rory spent over 4 years as an associate in the Real Estate Finance team at Bryan Cave Leighton Paisner LLP in London. This included 3 years in private practice acting on the delivery of complex investment and development finance transactions and most recently, 18 months seconded to the Debt and Special Situations team at LaSalle Investment Management, a market-leading real estate funds manager investing in real estate debt throughout UK and Europe and across the capital structure.
Prior to this, Rory spent 3 years as a solicitor in New Zealand in the Banking and Finance team at Simpson Grierson.
Rory brings strong experience in the structuring, execution and management of property finance transactions across a range of asset classes.
Rory holds an LLB and BA from the University of Otago.
Hayley Fletcher
Hayley is a Chartered Accountant, certified by Chartered Accountants Australia and New Zealand (CA ANZ), with over 10 years of experience in finance.
Prior to joining Pearlfisher, Hayley spent more than four years at Kiwi Property Group, where she worked closely with the development team, providing financial guidance on development project costs and tax matters, and managing capital forecasting and accounting across the group’s portfolio.
Her career also includes valuable experience in London, where she held various commercial finance roles. Additionally, Hayley developed her expertise in accounting and financial reporting during her tenure at PwC in Assurance.
She holds a BA in Accounting from the University of Otago and a diploma in Marketing.
Jarden Board Representatives
Sean Keane
Sean is the founder and Managing Director of Triple T Consulting.
Alongside providing policy advice to central banks and regulatory authorities in Asia-Pacific, Triple T also provides market analysis and interpretation to a variety of hedge funds, asset managers and commercial banks around the world. Triple T is best known for the respected daily commentary “What’s happening in the Money Markets” which is widely read throughout the financial markets.
Sean’s career spans 25 years in the financial markets, in a variety of senior roles in London, Wellington, Sydney, Singapore and Tokyo. Most recently he was Managing Director of Global Money Market Funding and Short-Term Interest Rate Trading in Asia-Pacific for Credit Suisse.
In 2012 Sean joined the Board of Jarden as a Non-Executive Director and is the current Chairman of Pearlfisher Capital.
Chris Seel
Chris Seel is the founding Chairman of Simply Energy Limited and the managing director of Targa Capital Limited, which manages a substantial New Zealand property and investment portfolio on behalf of an offshore investor.
Chris has a wide variety of commercial experience having started his career with BHP in New Zealand and then working in the finance sector in London, New York and Moscow before returning to New Zealand.
During his time offshore, Chris was the Chief Financial Controller for IIR Group in Amsterdam, CFO of IIR Training and CEO of Datatech International in New York. His final position before returning to New Zealand was four years as COO of Moscow-based private investment firm ESN, managing a portfolio of private equity and listed securities with an aggregate value of over US$1 billion. During his time in Moscow, Chris was a founding member of the Moscow Independent Directors Association.
Since returning to New Zealand, Chris has been an active investor in the private equity and property markets. Chris is a member of the NZ Institute of Directors and sits on several property development boards and advisory panels. He is also Chairman of both Tenco Limited and Axos Systems Limited.