Auckland businessman Peter Masfen would have been disappointed to miss his swansong, due to health problems, as chairman of the NZX-listed Property for Industry but the accolades were nonetheless generous.
Since taking the chair in 2002, Masfen has presided over a property portfolio that increased in value from $209 million to $1.2 billion and the 76-year-old says “a strong foundation is in place for the company’s ongoing success, with an experienced board and talented management team, and now is a good time for me to retire.”
A King’s College old boy, Masfen was a member of the coxed four that won the inaugural Prince Phillip Cup Regatta at Henley-on-Thames in 1963 and went on to represent New Zealand at the 1964 Summer Olympics in Toyko. Later as a coach, he helped fund the New Zealand women’s and men’s eights at the 2016 Summer Olympics in Rio de Janeiro.
However, it has been Masfen’s exploits off the water that have earned him the most recognition. Having started as an accountant at Porter Wigglesworth and Grayburn, he consolidated his business interests and bought a 20% stake in Montana Wines, which he chaired for 30 years before selling IT to Allied Domecq in 2001 for $200m.
These days the Masfen Group has a diversified portfolio that includes stocks, private equity and property managed by his son Rolf. One of the most valuable assets is a half-share in the giant Mount Linton Station in western Southland, which covers 13,365 hectares and usually finishes 45,000 lambs in a season (though drought dramatically reduced those numbers in 2018).
Also involved in the family business are daughter Eugenie and her husband Raphael Yan, and son Anatole, who are directors of Masfen Group’s private equity arm Artemis Capital.
Inducted into the Business Hall of Fame in 2002, Masfen was also made a Companion of the Order of Merit in 2016 for services to business and philanthropy. He lives with his wife, Joanna, in a $12m property in Parnell.