CIO expects PE investment could grow to about 5% of portfolio. A KiwiSaver provider is eyeing further investment in private equity firms after committing $50 million to Pioneer Capital, as fund managers look for new ways to put an incoming wave of money to work. The Kiwi Wealth KiwiSaver scheme said today it was investing the money in Pioneer Capital’s latest $300m fund, called Pioneer Capital Partners IV, joining the NZ Super Fund and Ngāi Tahu Holdings as cornerstone investors after they committed $100m and $30m respectively. Pioneer was founded in 2005 and has invested in 23 New Zealand businesses that focus on high-value exports. Those companies have aggregate annual revenue