Simpson Grierson’s Banking & Finance experts are proud to have contributed to the New Zealand Trends and Developments chapter in the Chambers and Partners Global Practice Guide on Private Credit 2026.

Partners Josh Cairns, Dominic Toomey and Stuart Evans, together with Senior Associate Matt Mazenier, authored the chapter, which forms part of a guide spanning more than a dozen jurisdictions worldwide.

Access the chapter

You can read our chapter in the guide via the Chambers and Partners website. It covers the current state of New Zealand's private credit market and our key observations are that:

• New Zealand’s domestic private credit funds continue to grow strongly, despite relying mainly on organic, relationship-driven deal flow. Investor support for the asset class remains deep, and borrowers are increasingly viewing private credit as a mainstream option for corporate financing, not just for property loans;
• Recent changes to New Zealand’s foreign investment rules have boosted offshore investment into domestic private credit funds. This has allowed local fund managers to compete on a wider range of, and larger, financing opportunities;
• Private equity sponsors are increasingly pushing for overseas-style financing terms (from the US, UK and Australian markets in particular) to be used in New Zealand deals. Many of these terms are “market setting” in the context of the New Zealand market, and funds that are willing to move away from traditional local norms are better placed to win competitive mandates; and
• While unitranche/super-senior financing structures are not yet standard, clearer intercreditor norms are emerging at the top end of the market. In the mid-market, however, deals often still need simpler security-sharing arrangements to satisfy bank requirements, making structuring flexibility (particularly with respect to intercreditor arrangements) critical.

About our Banking & Finance team

Simpson Grierson's Banking & Finance team advises across the full spectrum of private credit transactions. From bilateral secured lending and mezzanine structures to acquisition finance, intercreditor arrangements and fund establishment.

We act for major banks, domestic and offshore non-bank lenders, sponsors and corporate borrowers, and we bring deep experience in both transactional and regulatory matters across this rapidly evolving asset class.

About Chambers and Partners

Chambers and Partners is one of the world's most respected independent legal research organisations. Its Global Practice Guides are used by lenders, investors, fund managers and corporate borrowers as a reference point for understanding how legal and market practice operates across different jurisdictions. Inclusion as a contributing author reflects both the depth of our expertise and the significance of the New Zealand private credit market on the global stage.

Get in touch

If you would like to discuss any of the themes covered in the guide, or how the evolving private credit landscape might be relevant to your business, please reach out to one of our authors.