Despite preferring privacy to publicity, low-profile investor Danny Chan was involved in two stock exchange listings in the past year – rare events in the current market.
The first was trucking group TIL Logistics, which backdoor listed through Bethunes Investments in December. The second was another logistics firm, China-focused consumer goods distributor QEX, which joined the NXT board in February.
Mr Chan’s board seats on the two companies add to his roles as a director of listed dental services group Abano, a finalist for a Deloitte governance award last year, and of NXT-listed Marlborough Wine Estates.
The public roles are perhaps a recognition of the value generated by Mr Chan in his private capacities, not least at education provider ACG where he retains a 5.8% stake after its acquisition by private equity firm Pacific Equity Partners in 2015.
The deal reportedly valued ACG at $500m and catapulted Mr Chan, whose interests owned about 28% of ACG before the acquisition, somewhat reluctantly on to the NBR Rich List.
Three years on there are rumours PEP is reviewing its investment, as private equity firms do, with a range of transactions possible such as debt refinancing, property deals or division sales.
It’s a natural development for the group after changes such as the $29m opportunistic acquisition of several training schools from the administrator of Intueri Education Group and the consolidation of its Auckland Senior College into the ACG Parnell campus.
Outside his director roles Mr Chan is a keen technology investor with a range of companies in his portfolio.
One of those is another education provider, Simtics, which provides online training tools for medical students, particularly simulations to help teach medical procedures.
This year a share offer to investors valued its stock at 70c, implying an overall equity value for the company of $15m. Companies Office records indicate Mr Chan owns 16% of Simtics directly.
Chan’s other public roles include directorships of Auckland Tourism Events & Economic Development and the NZX Markets Disciplinary Tribunal.
When not working, Mr Chan likes to fit in a spot of fishing, if you call every weekend a spot of fishing. His chosen targets are the big fish up north – marlin, hapuka, tuna and kingfish.
Mr Chan was raised in Wellington, a third generation Chinese New Zealander fluent in Mandarin and Cantonese, and went to Victoria University where he graduated in 1973 with honours in commerce.
His early career was in investment and insurance, while lecturing part-time at Victoria, before heading overseas as a fund manager with US firm Fidelity.
Returning to New Zealand in 1994 he saw an opportunity in education and set up ACG.