Applicant
Pegasus Bidco Limited
Case number(s)
202200554
Decision date
Type
Decision
Decision

Consent granted
Section 13(1)(c) Overseas Investment Act 2005 
Decision maker Toitū Te Whenua Land Information New Zealand
Decision date 1 March 2023
Pathway(s)

Significant business assets 
National interest assessment 
Investment Acquisition of 100% of the shares in Pushpay Holdings Limited
Consideration Withheld under s 9(2)(b)(ii) of the Official Information Act 1982
Applicant

Pegasus Bidco Limited 
USA (36%)
Canada (20.04%)
Singapore (20.91%)
Australia (5.09%)
Various (17.96%)
Vendor

The shareholders of Pushpay
USA (40%)
New Zealand (35%)
Australia (11%)
Canada (3%)
Various (11%) 
Background

Pegasus Bidco has been granted consent to acquire 100% of the shares in Pushpay Holdings Limited. Pushpay is a software and service payments technology company that provides donor management software to support donations to non-profit organisations, religious sectors, and education providers.

Pegasus Bidco is ultimately owned by funds managed or advised by certain affiliates of private equity firm BGH Capital Pty Ltd, and global investment firm Sixth Street.

LINZ is satisfied the investor test has been met. The Minister of Finance has decided that the investment is not contrary to New Zealand national interests.
More information

Glenn Shewan
Bell Gully (Auckland)
PO Box 4199
Auckland 1140                

Susie Kilty
Buddle Findlay (Wellington)
PO Box 2694
Wellington 6140