SUCCESSION STRATEGY | WHOLESALE INVESTORS ONLY
Continuity Succession Fund
Back proven businesses through succession. Grow their cash generation and value.
We acquire majority stakes in established, profitable New Zealand businesses whose owners are ready to step back, and create pathways for capable operators to become owners.
We then help each business run well beyond its owner, building the leadership, systems and capability to keep it generating cash and growing in value for the long term.
Fund details
Access to established, profitable New Zealand businesses at the point of succession.
Indicative only and not an offer. Full terms are provided in the Information Memorandum to wholesale investors.
Fund size
Initial raising target NZ$100m
Initial close
Target NZ$20m · Q1 2027
Structure
Evergreen, open-ended limited partnership
Subscriptions
Open on an ongoing basis after the initial close
Status
Registering interest
Minimum investment
NZ$750,000
Active Investor Plus visa
An investment in the fund may form part of a qualifying investment. Eligibility is being confirmed. Contact us for more information.
Investors
Wholesale investors only
Investment strategy
Our income-led, evergreen strategy seeks returns through operating cash flows and long-term value growth in succession-ready businesses. We aim to hold businesses without a predetermined exit timetable, with decisions to sell made on their commercial merits and contribution to the portfolio.
Location
New Zealand
Sector
Sector-agnostic
Profitability
Established, profitable and cash-generative, with annual EBITDA from NZ$1.5m
Revenue
NZ$10m to NZ$150m
Enterprise value
NZ$5m to NZ$40m
Ownership situation
Owner approaching ownership succession or transition
Investment
Majority ownership, with flexible owner and operator participation
These describe our target profile, not absolute limits.
Risks & disclosures
Investing in the Continuity Succession Fund involves risk, including potential loss of capital, business underperformance, valuation changes and limited liquidity. Redemptions are subject to lock-up periods, available liquidity and applicable restrictions, and may be scaled or deferred.
The fund may transact with related parties. Duality may provide separately charged redesign and operating services to portfolio businesses. Every intervention is scoped, bound and at or below market rates, and approved by the independent committee members.
Full information about investment risks, fees, related-party arrangements, investor eligibility and redemption provisions will be provided in the Information Memorandum and associated fund documents.
Now taking registrations of interest for the Continuity Succession Fund
We'll be in touch to discuss the opportunity and, if you meet the wholesale investor criteria, share the Information Memorandum when it's available.
*For wholesale investors only. Registering your interest involves no commitment. Further details are provided only to investors who meet the wholesale investor criteria.
Important information
The Continuity Succession Fund is offered only to wholesale investors within the meaning of clause 3(2) of Schedule 1 of the Financial Markets Conduct Act 2013. It is not a regulated offer, and no product disclosure statement has been or will be prepared. Investors must certify that they meet the wholesale investor criteria before investing.
Duality Fund Management Limited (NZBN 9429054053397) is the manager of the Continuity funds. Duality Continuity GP Limited (NZBN 9429054053267) will be the general partner of the Continuity Succession Fund LP, the limited partnership through which investments will be made once it is registered. Both are led by Chris Hughes and Camille Kathryn Hughes.
This website is general information only. It is not an offer of financial products, and it is not financial advice. Any offer will be made only through the Information Memorandum, to investors who meet the wholesale investor criteria.