Comprehensive fund information for wholesale investors.
面向批发投资者的完整基金信息。
Goldenstone Partners Limited Partnership is registered under the Limited Partnerships Act 2008. The Fund provides secured debt capital to New Zealand operating businesses in productive infrastructure sectors: renewable energy, workforce education and tourism accommodation.
Goldenstone Partners 有限合伙基金依据《2008 年有限合伙法案》注册成立。基金向生产性基础设施行业的新西兰运营企业提供担保债权资本：清洁能源、劳动力教育与旅游住宿。
The Fund is denominated in New Zealand Dollars (NZD) and offered exclusively to wholesale investors as defined under Schedule 1 of the Financial Markets Conduct Act 2013. Investment is made via the Limited Partnership Agreement and Information Memorandum.
本基金以新西兰元（NZD）计价，仅向《2013 年金融市场行为法案》附表 1 所定义的批发投资者发售。投资通过有限合伙协议与信息备忘录进行。
Local understanding of New Zealand operating sectors, regional growth drivers and infrastructure needs.
对新西兰运营行业、区域增长驱动因素与基础设施需求的本地理解。
Long-term relationships with operators, advisers and market participants support practical investment assessment.
与运营商、顾问和市场参与者的长期关系支持实际投资评估。
Investment opportunities are reviewed through structured due diligence, governance oversight and risk assessment.
投资机会通过结构化尽职调查、治理监督与风险评估进行审查。
Our approach focuses on productive businesses and infrastructure that can support durable economic value.
我们的方法专注于能够支持持久经济价值的生产性企业与基础设施。
Secured debt capital can be structured to meet the practical needs of operating businesses while maintaining investor-focused discipline.
担保债权资本可以根据运营企业的实际需求进行结构化，同时保持以投资者为中心的纪律。
The following table summarizes the key terms of the Fund. Investors should refer to the Information Memorandum and Limited Partnership Agreement for complete details.
下表总结了基金的关键条款。投资者应参阅信息备忘录与有限合伙协议以获取完整详情。
The Fund provides secured debt capital to New Zealand operating businesses in productive infrastructure sectors: renewable energy, workforce education, and tourism accommodation.
基金向生产性基础设施行业的新西兰运营企业提供担保债权资本：清洁能源、劳动力教育与旅游住宿。
Wholesale investor commitments to Limited Partnership
批发投资者对有限合伙的承诺
Capital allocated across secured debt structures
资本跨担保债权结构配置
Independent legal, financial and technical assessment
独立法律、财务与技术评估
2/3 approval requirement for capital deployment
资本部署需2/3批准
Capital deployed to established infrastructure operators
资本部署至成熟基础设施运营商
Ongoing performance and covenant monitoring
持续业绩与契约监控
Quarterly reports and annual audited statements
季度报告与年度审计报表
The General Partner manages the Fund in accordance with the Limited Partnership Agreement and the Statement of Investment Policies and Objectives (SIPO).
普通合伙人依据 LP 协议与《投资政策与目标声明（SIPO）》对基金进行管理与运作。
All investments are approved by the GP and the Investment Committee, in accordance with the SIPO.
所有投资由普通合伙人与投资委员会共同审批，并遵循 SIPO 框架。
At least three members; investment decisions require approval of two-thirds of members.
至少三名成员；投资决策需获三分之二成员通过。
Prepared under the Limited Partnerships Act 2008 and Special Purpose Financial Reporting Framework (SPFR), made available to investors.
依据《2008 年有限合伙法案》及《特别目的财务报告框架（SPFR）》编制，并向投资人披露。
Annual investment reports and partner tax statements are provided to investors as required.
每年向投资人提供投资报告与合伙人税务报表。
Investee entity accounts audited; independent valuations and due diligence performed prior to investment.
被投企业账目须经审计；投资前完成独立估值与尽职调查。
Concentration, credit, opportunity and forecast risks actively managed through committee oversight.
集中度、信用、机会与预测等风险均纳入委员会主动管理。
The GP intends to authorise distributions consistent with a pre-tax 6% per annum Hurdle Return. Actual distributions are at the GP's absolute discretion and may differ.
GP 拟以税前 6% / 年为基准进行分配，实际分配由 GP 自主决定，可能存在差异。
The Fund is available to eligible wholesale investors. To request the Information Memorandum, discuss eligibility, or enquire about AIP alignment, please contact investor relations.
基金面向符合资格的批发投资者。如需索取信息备忘录、讨论资格或咨询 AIP 对齐，请联系我们。
As with any private investment, this Fund involves risks. Key risks are summarised below; investors should refer to the IM and seek independent professional advice.
如同任何非公开投资，本基金存在多项风险。下表为关键风险摘要；投资前请参阅完整 IM 并咨询独立专业意见。
Returns derive only from distributions and redemptions; there is no capital appreciation on units. The Hurdle Return is a target, not a promise.
收益仅来自分配与赎回，份额本身不会增值；Hurdle Return 仅为目标，并非承诺。
Risk that the Fund's assets become concentrated in a limited number of investee entities or sector exposures. Each borrower is assessed on its own merits with IC oversight.
资金可能集中于少量被投企业或行业敞口，由投资委员会逐项审视并独立尽调。
Risk that a borrower cannot pay agreed interest or principal. The GP performs significant analysis of borrower targets.
借款方可能无法按时偿付利息或本金；GP 对借款方进行严谨分析。
Risk of insufficient lending opportunities meeting the Fund's criteria, or insufficient cash at the right time. GP maintains a capital deployment pipeline.
合格投资机会或可用资金可能不足；GP 通过资本部署储备进行管理。
Risk that target capital is not raised or investee entities miss forecasts. The Fund is subject to minimum scale and capital availability requirements prior to full deployment.
资金募集或被投企业表现可能不及预期。基金在全面部署前需满足最低规模与资本可用性要求。
Independent valuations, audited investee accounts, IC oversight, and disciplined diversification underpin the Fund's risk framework.
独立估值、审计后账目、投资委员会监督与组合多样化共同构成风险管理框架。
