Meet the team
Castlerock’s day-to-day operations are led by Ben MacDonald and Matthew Willacy who are supported by the wider Bancorp team and the Castlerock Investment Committee.
Matt joined Castlerock in August 2023 and works across all aspects of the fund including working closely with portfolio businesses, sourcing and executing Castlerock’s new investments, and liaising with investors. Matt represents Castlerock on the board of Majestic Horse Floats (alongside Derek) and HQ Travel Group.
Matt has extensive experience in corporate finance and M&A advisory (including acting for private equity funds), gained across both the European and Australasian markets. He understands the Castlerock proposition after working for 5 years at Bancorp Corporate Finance.
Most recently, Matt has gained additional corporate operating experience via a role at private equity backed MediaWorks where he was Head of Corporate Finance responsible for M&A, bank funding relationships and investment opportunity analysis.
Matt holds a Bachelor of Engineering (Hons), a Bachelor of Commerce and is the Senior Chair and Board member of the Parnell Cricket Club.
Ben joined Castlerock in August 2023 works across all aspects of the fund including working closely with portfolio businesses, fund management, sourcing and executing Castlerock’s new investments, and liaising with investors. Ben represents Castlerock on the Vivo Hair Salons, Tile Depot and Brooklands Pet Products boards.
Ben is a Chartered Accountant and has worked in the Aviation, Energy and Public Service sectors. His experience in the corporate sector includes strategic business plan development, budgeting, and financial compliance. Most recent projects include structured refinancing, commercial due diligence, and post-merger integration project management.
Ben holds a Bachelor of Management Studies (Hons) Accounting and is a Chartered Accountant (CA ANZ).
All key investment decisions are made by Castlerock’s Investment Committee.
Craig Brownie
Craig has been Managing Director of Bancorp since 2001, following an investment banking career with Macquarie Bank working in London, New York, Sydney and Toronto. Craig has led Bancorp’s private equity activity during this time and was Chairman of Premier Beehive Bacon Limited, Mana Coach Services Limited and Airbus Express Limited and a Director of Boston Marks Insurance Brokers. As well as being a Director of Castlerock’s general partner and manager, Craig is currently a Director of Salus Aviation (an aircraft owning, leasing and operating business owned by Bancorp), YouOwn Housing Limited (a co-ownership housing provider owned by Bancorp) and a Trustee on the Kelliher Charitable Trust and Kelliher Art Trust. Craig is a Chartered Member of the Institute of Directors.
Tim Zonneveld
Tim is a Partner at BDO Auckland and Independent Director of Castlerock’s manager. He has spent over 20 years advising businesses from small and medium enterprises to large multinational corporates. Tim has forged a strong professional relationship with many private equity firms and is their adviser of choice for venture capital, private equity and capital market transactions. He frequently advises on major transactions such as mergers and acquisitions, property acquisitions and divestments, corporate restructures, overseas expansions, and foreign investments into New Zealand. Tim joined BDO from Russell McVeagh, previously holding the position of Associate at ‘magic circle’ law firm Linklaters. Formerly Tim was a Senior Solicitor at Bell Gully and also worked at Ernst & Young. Currently a Barrister and Solicitor of the High Court of New Zealand, Tim is also a qualified Chartered Accountant. Tim is a member of the International Fiscal Association and Chartered Accountants Australian and New Zealand.
Nigel Spratt
Nigel is an Executive Director of Bancorp and has over 20 years’ experience in international banking and financial markets, including time with UBS Warburg and on World Bank projects. He played a pivotal role with the New Zealand Housing Foundation for over 15 years. Nigel has invested in and sold private equity on his own behalf and was a Director of Auckland Airbus Express Limited and Boston Marks Insurance Brokers. Currently, Nigel is a Director of Castlerock’s general partner and manager as well as other Bancorp businesses YouOwn Housing, Salus Aviation and Bancorp Wealth Management New Zealand Limited and its subsidiaries.
Dr Derek Phillips
With nearly 20 years’ merchant banking and corporate advisory experience, Derek is head of Bancorp’s Corporate Finance business, leading a team of experienced executives. He has a PhD in Engineering and Aerodynamics. Derek has led some of the major M&A transactions undertaken by a range of New Zealand corporates and private companies providing both buy-side and sell-side advice. Derek represents Castlerock on the board of Majestic Horse Floats and sits on Castlerock’s Investment Committee.