New Zealand private equity firm Knox Investment Partners has appointed business leader Hugh Fletcher to its advisory committee.

This comes as Knox announces it is looking to invest via its latest fund $10 to $20 million each in between four to six Australian and New Zealand companies.

Knox investor relations manager Brigette Arnold said Fletcher was a "great acquisition, and the networks he will potentially open up for us will be great."

Fletcher Building's last formal link to its founding family ended at the last of last month with the retirement of Fletcher from the board. He remains a director of Rubicon, Vector and Insurance Australia Group.

Fletcher will join Sir Eion Edgar, Nick Wells and Tom von Oertzen on Knox's advisory committee which governs its investment strategies.

Arnold said its fourth fund would look to invest in companies from a range of industries, but it did see great opportunities in the light industrial and food services sectors within New Zealand.

Knox's fourth fund had raised capital from a mix of high net worth investors and local institutional investors.

"We have found that a number of local institutional investors have found their traditional portfolios and fixed income portfolios have struggled and they are looking for more long-term investment options. Private equity is coming on their radar," said Arnold.

Knox had already invested 15 per cent of its fourth fund's capital of between $100m and $150m in Australian Aerial Mapping which has bought new aircrafts, technology and the establishment of a processing centre in Kuala Lumpur.

Knox was established in 2004. It holds a 30 per cent stake in ASX-listed Opus Print Group.

- © Fairfax NZ News