A 50-million-dollar capital raise to fund a major expansion to a private hospital in Christchurch, has been over-subscribed by 30 percent, and closed within weeks

According to Business Desk, Forte Health Precinct owner NHL Properties appointed Mainland Capital as a fund manager, in late 2023.

It planned a two-month capital raise from February, with a target of 35 to 50-million dollars.

Executive director and co-founder of Mainland Capital, Ben Bridge, says investors were attracted by the quality of the new building, exposure to the private healthcare sector and targeted returns of more than 10 percent.