Brightlight Joins Groundbreaking Effort: Bay of Plenty Housing Equity Fund Launches

A transformative investment solution addressing the region's critical housing shortage in New Zealand.

Brightlight is pleased to announce our participation in the Bay of Plenty Housing Equity Fund (BOPHEF), a groundbreaking new initiative tackling the urgent housing crisis in New Zealand. This collaborative effort unites leading community organisations: BayTrust, Trust Horizon, Rotorua Trust, TECT, and Tauranga City Council, joined by investment managers Brightlight and New Ground Capital. The founding shareholders are committed to investing an initial NZ$45m, with the aim of leveraging this into a NZ$100m starting capital pool.  

At Brightlight, we see the urgent need for this fund, and alongside New Ground Capital, we are poised to drive meaningful investment in the Bay of Plenty. We are targeting housing solutions desperately needed in the region: affordable rental and ownership options, elder housing, crisis accommodation, supported housing, and more. All these address gaps left by traditional market and government responses. 

"This isn't just about building houses – it's about unlocking potential and supporting thriving communities. We see a unique opportunity to invest in a historically underserviced asset class while actively shaping a better future for the Bay of Plenty," says Sam Richards, Managing Director here at Brightlight. 

Alongside New Ground Capital, we will provide the capital, expertise, and dedication necessary to bring essential community housing projects to life. This fund offers a clear pathway to overcome the barriers facing these initiatives, from land acquisition and financing to navigating complex development hurdles. 

Anne Tolley, Commission Chair for Tauranga City Council, echoes the potential: "The Bay of Plenty Housing Equity Fund demonstrates forward-thinking strategy. It aligns perfectly with our vision of delivering affordable housing solutions while maximising the benefits of our investment for the Tauranga community." 

Brightlight sees a future where the BOPHEF becomes a nationwide model for investing, empowering communities across New Zealand and ensuring everyone in the Bay of Plenty and beyond has access to a safe and secure home. 

For more information, please get in touch with Tim Symons at tsymons@brightlightimpact.com.