| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 11 September 2026 |
| Pathway | Significant business assets - Primary consent |
| Investment | Acquisition of up of 100% of the shares in Steadfast Group Limited |
| Value of the New Zealand assets | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Starboard BidCo Pty Ltd1 North America 58% Asia 21% Europe 6% Central America 7% Various 8% |
| Vendors | The shareholders of Steadfast Group Limited Australia 59% North America 14% Various 27% |
| Background | The Applicant is a special purpose vehicle for this investment. It is indirectly owned by investment vehicles that are managed by and/or affiliated with American investment companies Dragoneer Investment Group, LLC and Kohlberg Kravis Roberts & Co. L.P. It is acquiring up to 100% of the shares in Australian company Steadfast Group Limited. Steadfast Group operates an insurance broker network and underwriting agency business, including through its subsidiaries in New Zealand. The underwriting agency business and certain wholesale broking businesses will be carved out and acquired by entities affiliated with Amwins Group, Inc. Consent was granted as the national interest test was met. |
| More information | Tom Jemson Chapman Tripp (Auckland) PO Box 2206 Auckland 1140 |
1 These figures reflect the expected jurisdictional ownership breakdown as at the date of the consent application which is subject to change prior to implementation of the investment.