A whopping amount of $41million has been raised as infrastructure fund by retail investors in New Zealand.

The equity raised by the way of public offer for New Zealand Social Infrastructure Fund Ltd. (NZSIF) gives the retail investors a chance to be a part of the public-private partnerships. The promoters for the offer are by Morrison&Co PIP Ltd and Craigs Investment Partners Ltd.

The money raised would be invested in public-private partnerships and will be utilized to strengthen the infrastructure of the country. Social infrastructure assets like schools, hospitals, roads, etc would be built from the money raised.

Reports claim that the amount of $41m has been raised from 750 investors. The profile of the investors is heterogeneous comprising of private investors, community groups, charitable trusts, Maori trusts and Craigs Ltd.

Managing Director of Morrison &Co PIP Fund, Peter Coman said that, 'He is delighted to have such a broad group of investors participating in the PIP Fund via NZSIF.'

In yet another company report, Neil Craig, Executive Chairman of Craigs Investment Partners said that he is thrilled about the level of the support the fund has got from investors, especially in a financially slow environment.

Reports suggest that the amount of the fund could be well above $160m as institutional investors are also keen to invest in the fund.

NZSIF's board is elated with the response and claims that the amount raised is the largest successful equity raising in New Zealand.

The board is confident that at this pace the overall target of raising over $200 million for the PIP fund is not a distant dream.