Quayside is the investment arm of Bay of Plenty Regional Council. We are the majority shareholder in the Port of Tauranga and also an issuer of debt securities on the New Zealand Exchange.
Our initial purpose back in 1991 was to acquire and manage the shareholding in the Port of Tauranga, however 30 years later with a range of asset classes in our portfolio including interests in property, shares and private equities, we continue to seek new opportunities for investment to diversify our asset base and provide sustainable long-term intergenerational returns.
Our objective is to manage our investment assets for a commercial return, providing sustainable growth and income to the wider community. We take a responsible, commercially focused and collaborative approach to investment, with our structure supporting the agility required to take advantage of new opportunities. Since 2002, Quayside has identified and invested in a number of large and smaller regional strategic projects to support economic and social development aspirations for the benefit of the Bay of Plenty community.
Our strategy enables a portion of the profits made each year to be invested in contributing to the region’s economic, environmental and social growth. We believe that not only can our investment model be used for the betterment of our region, but that we can be the Rangatiratanga leading the way for other investment entities who want to make a lasting impact. For case studies on some of the investments that Quayside has been involved in, visit the ‘how we invest’ section.
HOW DO WE MAKE
In addition to developing a diversified asset base, we have provided distributions and capital worth over $600 million for the benefit of Bay of Plenty Regional Council and regional stakeholders since our inception in 1991. Real value is delivered to our community through a rate reduction as a result of our distribution payment to the Bay of Plenty Regional Council – to the tune of an average of $347 per property in 2021/2022.
In 2008, $200 million was raised through issuing Perpetual Preference Shares to retail investors. The Bay of Plenty Regional Council leveraged its position in Quayside, with Quayside continuing to support shareholders through dividend payments. The share issue resulted in a significant contribution by the Bay of Plenty Regional Council towards four key infrastructure projects across the region valued at $42.5 million, such as the University of Waikato campus in Tauranga.
We will always be commercially focused and community-minded.
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 Ngāti 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 on 31 December 2018. Rob was also named the inaugural Te Tohu Kahukura Māori Leadership in Finance recipient in 2022 recognising his long commitment and contribution to Māori, finance and business.
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 was previously the 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 Pāmu (Landcorp Farming Ltd) and FarmIQ 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.
Te Taru was appointed to the Board in March 2021. He is an elected member of Bay of Plenty Regional Council and a member of their Risk and Assurance Committee and Komiti Maori. Te Taru has held a number of governance roles in both the private and public sector and has been a Trustee and Chairman of numerous Land Trusts and Incorporations within the Te Arawa Confederation of tribes. He was a past Board member of the National Federation of Māori Authorities, is currently the Deputy Chairman of the Te Arawa Federation of Māori Authorities, the Chairman of Te Tatau o Te Arawa partnership with Rotorua Lakes Council and is a Board member of the Māori Trade Taumata. He has a wide range of experience from scientific and applied research to indigenous socio-economic development nationally and internationally including cultural leadership of the National Museum of New Zealand, Te Papa Tongarewa, and Chief Executive of the New Zealand Māori, Arts and Crafts Institute, Te Puia.
“The opportunity for our team to apply their skills and expertise, 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 Hamilton – 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 WNT Ventures, Oriens Capital GP 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.
Brendon Barnes – Chief Investment Officer Investment Team
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.
Mel Manley – Corporate Services Manager Corporate Team
Mel joined the Quayside team in March 2021 as Corporate Services Manager in a part-time capacity, while continuing with her own HR consultancy business. Mel recently relocated back from Australia, bringing a wide range of knowledge and specialist skills at an executive-level across multiple industries. Among some of Mel’s achievements was a Project Lead for a new brand across Australasia, managing an entire safety culture rebuild at Government-level, and input into Federal IR matters for the transport industry.
Davide Caloni – Finance Manager Finance Team
Davide joined Quayside in April 2021 as a Finance Manager and is responsible for the financial management of the group ensuring strong financial outcomes, sound compliance, risk management and providing specialist advice on investment opportunities. Prior to joining Quayside, Davide was a Fund Controller in Hines focusing his efforts on the Hines European Value Fund Series. He started his career in audit working for PwC Italy and KPMG Luxembourg. Davide has a Master in markets and Corporate Strategy from “Università Cattolica del Sacro Cuore” (Milan) and is a member of the ACCA.
Suzanne Casey – Legal and Risk Manager Legal & Risk Team
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.
Mark Hatchman – Project Manager – Property Strategy / Operations Team
Mark started working at Quayside in late 2020 in the capacity of Project Manager – Property. He brings a wealth of experience to the team having worked in project management and engineering roles both abroad and in New Zealand. In these roles he has managed large teams to deliver successful projects and outcomes. Mark’s expertise lies in delivering complex civil and development projects from conception to completion. Mark holds a Bachelor of Civil Engineering with a Masters in Project Management.
Mike Horsley – Project Manager – Property Strategy / Operations Team
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.
Sam Newbury – Investment Manager Investment Team
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.
Annabelle Glazewski – Investment Manager Investment Team
Annabelle has been with Quayside since June 2021, joining us as our Legal and Risk Manager, before moving to her role as Investment Manager in May 2022. Annabelle has over 16 years experience in the investment management industry, primarily as a lawyer.
Of Polish and Ngāi Tahu descent, Annabelle completed her BMS/LLB at Waikato University before working for DLA Piper and Goldman Sachs in Auckland. She then headed to the UK for five years as legal counsel for RBC BlueBay Asset Management. Moving back to this side of the world, Annabelle worked for MapleBrown Abbott and the Westpac Group in Australia, before coming home and joining Quayside.
Annabelle’s wealth of experience serves her well in her role as Investment Manager, putting a different lens on Quayside’s investment opportunities. Annabelle holds a Bachelor of Management Studies (Strategic Management and Marketing) and a Bachelor of Laws and is admitted as a barrister and solicitor of the High Court of New Zealand.
Zi Yuan Tee – Investment Analyst Investment Team
Zi Yuan joined Quayside in April 2021 as an Investment Analyst. He focusses on analysing investment opportunities in listed equities, private equity, property, and other real assets. Prior to joining Quayside, Zi Yuan briefly worked at PwC as a Financial Derivatives Analyst and as a Civil Engineer at Tonkin & Taylor. He has a BE(Hons) in Civil & Environmental Engineering and BCom in Finance and Economics. He is an avid reader and will read anything regarding investments, economics, history, and science & technology, albeit slowly.
Glenda Dufaur – Executive Assistant and Project Coordinator Corporate Team
Glenda joined Quayside in June 2021 after a five year stint at Bay Venues as Executive Assistant to the CEO and Board of Directors. Glenda also worked as Coordinator at SmartGrowth the collaborative initiative focusing of the future 50 years for the region, and the Rena Recovery programme through the Bay of Plenty Regional Council. Glenda is responsible for not only the smooth running of the office and our Chief Executive but also working alongside our project managers to deliver some of our major strategic projects.
Ross Thornton – Investment Analyst Investment Team
Ross joined the Quayside team in May 2022. Ross has a Masters in Commerce (First Class) and comes to us from Bluerock NZ where he undertook focused analysis and project work to improve business efficiency. As part of the investment team, Ross is responsible for undertaking targeted research and financial modelling to monitor and support Quayside’s investment decisions in line with our SIPO.
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.
- Seeka Ltd acquires OPAC, doubling QHL’s initial investment
- Quayside turns 30 on 22 July 2021.
- Earthworks begin on Stage 1a of the Rangiuru Business Park.
- Quayside acquires a 44% stake in PF Olsen, a leading professional independent forestry service.