Quayside Holdings is the investment arm of Bay of Plenty Regional Council. Via a subsidiary, it is the majority holder of shares in the Port of Tauranga and is also an issuer of debt securities on the New Zealand Exchange.
Quayside’s initial purpose was to acquire and manage the commercial investment of the Bay of Plenty Regional Council, primarily its shareholding in the Port of Tauranga. Interests in property, shares and private equities have since been added to the portfolio. Quayside continues to seek new regional opportunities for investment with which to diversify its income base.
Quayside’s objective is to effectively and efficiently manage investment assets for a commercial return, providing sustainable growth and income to regional stakeholders. It takes a responsible, commercially focused and collaborative approach to investment, with its structure supporting the agility required to take advantage of new opportunities. Since 2002, Quayside has also had a focus on identifying and investing in strategic projects that support economic and social development aspirations for the benefit of Bay of Plenty communities.
With a long-term strategy that enables it to retain a portion of its profits to invest each year, Quayside is able to enhance regional development and provide a level of diversification that future proofs investment returns. For case studies on some of the investments Quayside has been involved in, visit the ‘how we invest’ section.
HOW DO WE MAKE
In addition to growing the asset base, Quayside has provided distributions and capital worth over $500 million for the benefit of Bay of Plenty Regional Council and regional stakeholders since its inception.
In 2008, $200 million was raised through issuing Perpetual Preference Shares to retail investors. In essence, Bay of Plenty Regional Council leveraged its position in Quayside, with Quayside continuing to support their shareholders through dividend payments.
The share issue resulted in a significant contribution by Bay of Plenty Regional Council towards four key infrastructure projects across the region valued at $42.5 million.
WHO ARE WE?
Independent Director and Chair
Independent Director and Chair
Rob was appointed to the board in November 2016 and became chair in November 2017. He is also an ex-officio member of the Audit and Risk and the People, Culture and Safety committees. Rob is a tax lawyer and chartered accountant, and the former CEO and chair of Ernst & Young in both Australia and New Zealand. Rob is Ngati Porou. Currently Chair of Sanford Limited and a director of the Port of Tauranga Limited, he has also been a director of ANZ National Bank, Sky City Entertainment Group and Telecom. Rob was honoured as a Knight Companion of the New Zealand Order of Merit for services to business and Maori on 31 December 2018.
Stuart was appointed to the board in November 2018 and is a member of the Audit and Risk Committee. He is an elected member of Bay of Plenty Regional Council and a member of their Risk and Assurance Committee, Operations and Monitoring Committee, SmartGrowth Leadership Group and Deputy Chair of the Policy and Strategy Committee. Stuart has held a number of governance roles both in the private and public sector and was Mayor of Tauranga from 2004 until 2016. He is President of Local Government New Zealand and is a trustee of Summerhill Charitable Trust. Stuart was made an Officer of the New Zealand Order of Merit in 2017.
Brett was appointed to the board in November 2017 and is a member of the Audit and Risk Committee. He is also an independent director and chair of Bluelab Corporation and chair of economic development organisation Priority One. Brett is the former Chief Executive Officer of Comvita, where he is now a director. Prior to this he held several senior roles with global packaging firm, Tetra Pak.
Keiran was appointed to the board in 2019 and is chair of the Audit and Risk Committee. She is a full-time professional director with a background in accountancy, business rescue and insolvency across both the public and private sectors. Keiran is currently on the board of the New Zealand Lotteries Commission and University of Canterbury, as well as a range of SMEs in the health sector. She also provides independent audit and risk governance expertise to various councils. Keiran is a chartered accountant and a chartered member of the Institute of Directors.
Fiona was appointed to the board in June 2018. Fiona was the General Manager of Strategy and Science at the Bay of Plenty Regional Council for over six years before being appointed as the Chief Executive in June 2018. Fiona is a director of BOPLASS and Executive Board Member of Priority One. Fiona is also the Chair of Otumoetai Intermediate School board and a trustee at Tauranga Girl’s College.
Warren was appointed to the board in 2015 and is chair of the People, Culture and Safety Committee. He is the former CEO of Crown Research Institutes Scion and Landcare Research and is currently chair of Landcorp Farming Ltd (Pamu) and director of Farmlands Cooperative Trading Society, Predator Free 2050 Ltd and Focus Genetics. Warren chairs the Forestry Ministerial Advisory Group and the Advisory Board for Griffith Enterprises (the commercialisation arm of Griffith University) and is a member of the board of Genomics Aotearoa.
Paula was appointed to the board in 2012 and is a member of the People, Culture and Safety Committee. She is an elected member of Bay of Plenty Regional Council where she chairs the Strategy and Policy Committee and is a member of the Komiti Māori and Monitoring and Operations Committee. Paula is a former CEO of Tauranga City Council and previously chaired both Bay Trust and Sport Bay of Plenty.
“The opportunity for our team members to apply their skills, not only towards Quayside’s commercial objectives, but also towards the Bay of Plenty’s economic, environmental and social development drives many of our people.”
– SCOTT HAMILTON, QUAYSIDE CHIEF EXECUTIVE
Scott joined Quayside as Chief Executive in 2010 and has led Quayside’s growth and diversification programme. He joined Quayside having held senior roles in investment, finance, and funds management with organisations like ASB Group Investments and Barclays Global Investors. Scott is a director on the Opotiki Packing and Cool Storage, WNT Ventures, and Huakiwi Services boards. Scott is a Chartered Accountant and member of the Institute of Directors. He is also Chair of Pillans Point Primary School board.
Chief Investment Officer
Chief Investment Officer
Brendon joined Quayside in 2015. As Chief Investment Officer, he is responsible for the overall investment strategy and deal execution for Quayside. Brendon comes from an investment banking background, having spent 11 years working overseas with the Macquarie Group and the Abu Dhabi Investment Authority focusing on investments in the infrastructure sector. Prior to this he spent 10 years in structured finance, funds management and taxation consulting. Brendon is an independent director on the board of Honeylab, a research company that develops natural medical products from bees and their environment, and Techion Holdings, a diagnostics company. He holds a BCA in accounting and commercial law and a Graduate Diploma in professional accounting and is a member of the Institute of Directors.
Sam started working at Quayside in early 2018 when he moved to Tauranga from Perth, Australia. He is responsible for supporting Quayside’s investment decision making, including investment performance, project management, deal structure, providing strategic and operational advice, and supporting the governance function of investee businesses. Sam has previously held roles in the following areas; an in-house lawyer, foreign exchange and capital markets advisory, business development and regional development. He has studied both law and commerce, holding a Juris Doctor and a Bachelor of Commerce specialising in international business, commercial contracts, construction and dispute resolution. Sam is an admitted barrister and solicitor of the NSW supreme court.
Jairaj joined Quayside in 2019 to provide advice on investment opportunities across a range of asset classes, including venture capital, listed assets, private equity and real assets. He also builds financial models for investment opportunities and provides input on new investment ideas and strategies. Prior to working at Quayside, Jairaj held finance and investment analyst roles at Punakaiki Fund, Vodafone and Rocket Lab. He has a Bachelor of Commerce degree majoring in finance and economics.
Risk and Compliance Manager
Risk and Compliance Manager
Suzanne started working at Quayside in early 2019. Her key areas of focus include risk assessment and management, legal compliance and providing legal counsel in the areas of drafting documents, negotiation and general advice. A qualified lawyer, Suzanne previously worked in private practice specialising in building/construction litigation and insurance litigation. She also worked in the insurance industry for six years negotiating the settlement of Canterbury earthquake claims for commercial buildings, residential dwellings and business interruption claims. This included working with QCs on a number of cases which have created legal precedent for resolving insurance disputes.
Danielle started working for Quayside in 2018. In her role as Financial Accountant she is responsible for managing cashflow, daily accounting functions, developing accounting efficiencies, prudent cost management, fulfilling tax and legislative obligations and reporting, and interim and annual reporting. She also supports the Quayside risk management and internal audit function. Prior to joining Quayside, Danielle was a management accountant at Bay of Plenty Regional Council and a finance and administration manager at Downer. Danielle has a Bachelor of Management Studies degree majoring in accounting.
Project Manager – Property
Project Manager – Property
Mike works as a consultant in the areas of property management and property projects, assisted by key members of the Quayside team. He also recruits and manages consultant project managers for specialist roles. After graduating with a Bachelor of Civil Engineering degree majoring in structural design, Mike worked for Tauranga City Council, where he was involved in infrastructure design and building consent processing. He also has extensive experience in the private sector as a consulting engineer, including project managing large residential and industrial developments in Tauranga and Wellington. In 2005 Mike led the consultant team that established the Rangiuru Business Park for Quayside. He joined Quayside in 2017 in a consulting role to support the implementation phases of this development.
WHAT IS OUR
Bay of Plenty Regional Council (‘BOPRC’), Quayside Holdings Ltd (‘QHL’), Quayside Properties Ltd (QPL), Port of Tauranga (‘POT’), Bay of Plenty (‘BOP’), Perpetual Preference Shares (‘PPS’), Opotiki Pack & Cool (‘OPAC’)
- BOPRC established, receives 77% shares in POT from disestablished BOP Harbour Board
- QHL established as commercial investment arm of BOPRC
- QHL borrows $53,000,000 to acquire POTL shares from BOPRC
- POT lists on NZX, QHL shareholding reduces to 55%
- QHL achieves 1st year as a viable entity in its own right
- QHL pays first dividend to BOPRC of $1,290,000
- 1st diversification opportunity for QHL when POT provides unimputed special dividend of $8,400,000
- QHL net assets pass through $250,000,000
- QHL establishes QPL to enable diversification into property
- QPL purchases 162ha of land at Rangiuru for business park
- Consent gained by QPL for development of Rangiuru business park
- QHL raises $200,000,000 through issue of PPS to retail investors, tradable on NZX. Proceeds held by BOPRC for infrastructure projects
- QHL appoints first full time Chief Executive
- QHL net assets pass through $500,000,000
- Strike at Ports of Auckland increases container volumes via POT resulting in 40% increase in dividends
- New QHL policy of holding surplus profits for new opportunities
- NZ Productivity Commission attributes part of POT’s success as top performing NZ port to the QHL/BOPRC structure
- QHL net assets pass through $1,000,000,000
- QHL establishes QHL Investment Trust, a wholly owned portfolio investment equity trust
- QHL founding shareholder in Tauranga tech incubator, WNT Ventures
- POT enters Kotahi JV with Fonterra and Silver Fern Farms, QHL shareholding reduces to 54.14%
- QHL & Te Tumu Paeroa (the Maori Trustee) invest into OPAC, the largest seasonal employer in Opotiki
- BOPRC formalises QHL strategy to retain 20% of cash profit, fostering further economic and regional development
- QHL underwrites the concept of a BOP-based mid-tier private equity firm and becomes cornerstone investor in Oriens Capital
- QPL purchases 53 Spring St, Tauranga and develops a regional investment hub (The Vault) with aligned organisations/businesses as tenants
- Huakiwi Services Ltd founded, a JV between QHL and Te Tumu Paeroa
- Huakiwi invests in new kiwifruit orchards in BOP on Maori freehold land
- QHL net assets pass through $2,000,000,000
- QHL creates JV Tauranga Commercial Development Limited, acquiring commercial site in Tauranga for future development
- QHL creates JV Lakes Commercial Development Limited, acquiring commercial site in Rotorua for future development of BOPRC office
- QHL net assets pass through $3,000,000,000
- Provincial Growth Fund funding received to advance the Rangiuru Business Park.