Brandwave

Pencarrow Private Equity vs Waterman Capital:Which is more popular in New Zealand?

In October 2026, Waterman Capital had more branded searches than Pencarrow Private Equity among private equity firms in New Zealand. Waterman Capital had about 590 branded searches, while Pencarrow Private Equity had 260. Waterman Capital made up 16.4% of all private equity firm searches we track, and Pencarrow Private Equity accounted for 7.2%. When we asked ChatGPT and Google AI Overviews about private equity firms, Pencarrow Private Equity and Waterman Capital each appeared in three of the five answers. Waterman Capital was mentioned before Pencarrow Private Equity in three out of four answers that named either.

Among private equity firms in New Zealand in October 2026

Who do people search for more?

Waterman Capital, about 2 searches for every 1 for Pencarrow Private Equity

Waterman Capital 590 searchesPencarrow Private Equity 260 searches

Who does AI mention more?

Both were mentioned in 3 of 5 answers.

Pencarrow Private Equity in 3 of 5Waterman Capital in 3 of 5

Who does AI recommend more?

Waterman Capital, named ahead of Pencarrow Private Equity in 3 of 4 answers

Waterman Capital first in 3Pencarrow Private Equity first in 1

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Top private equity firms in ChatGPT and Google AI Overviews

In three ChatGPT questions and two Google AI Overviews, Pencarrow Private Equity was mentioned in three out of five: in one of the three ChatGPT answers and in both Google AI Overviews. Waterman Capital was mentioned in three out of five: in two of the three ChatGPT answers and in one of the two Google AI Overviews. Waterman Capital was listed before Pencarrow Private Equity in three out of four answers that named either.

Most recommended by AI

Brands get a higher ranking if they are mentioned earlier in the answers.

  1. Direct Capital1st
  2. Waterman Capital2nd
  3. Pencarrow Private Equity3rd
  4. Pioneer Capital4th
  5. Castlerock5th
  6. Adamantem Capital–
  7. Anchorage Capital Partners–
  8. Maui Capital–

Mentioned by AI

Each dot is one answer, filled in when that answer mentions the brand.

  • Direct Capital4 of 5Named in 2 of 3 ChatGPT answersNamed in 2 of 2 Google answers
  • Pioneer Capital4 of 5Named in 3 of 3 ChatGPT answersNamed in 1 of 2 Google answers
  • Waterman Capital3 of 5Named in 2 of 3 ChatGPT answersNamed in 1 of 2 Google answers
  • Pencarrow Private Equity3 of 5Named in 1 of 3 ChatGPT answersNamed in 2 of 2 Google answers
  • Castlerock2 of 5Named in 0 of 3 ChatGPT answersNamed in 2 of 2 Google answers
  • Adamantem Capital0 of 5Named in 0 of 3 ChatGPT answersNamed in 0 of 2 Google answers
  • Anchorage Capital Partners0 of 5Named in 0 of 3 ChatGPT answersNamed in 0 of 2 Google answers
  • Maui Capital0 of 5Named in 0 of 3 ChatGPT answersNamed in 0 of 2 Google answers

See every answer about private equity firms

5 answers

Not named in any answer:

Brands are shown in the order each answer named them. The survey took place in New Zealand on October 21, 2026.

Is Pencarrow Private Equity or Waterman Capital more popular in search?

This chart shows how often people search Google for Pencarrow Private Equity and Waterman Capital by name. Each line represents a brand's share of searches for all eight private equity firms we track, month by month, from searches in New Zealand.

Pencarrow Private Equity and Waterman Capital among private equity firms in New Zealand, by month

Share of searches by month for Waterman Capital, Pencarrow Private Equity. The figures are in the table below the chart.

View monthly share of searches table
MonthCastlerockWaterman CapitalDirect CapitalPioneer CapitalPencarrow Private EquityAdamantem CapitalAnchorage Capital PartnersMaui Capital
Nov 202558.4%9.5%11.7%9.5%6.3%1.7%1.7%1.2%
Dec 202570.3%5.1%11.5%5.1%2.7%3.3%1.2%0.78%
Jan 202671.8%6.4%6.4%6.4%4.2%1.7%1.7%1.2%
Feb 202660%9.8%9.8%8%6.5%2.3%2.5%1.3%
Mar 202650.1%12.7%10.3%10.3%8.4%3.7%2.1%2.4%
Apr 202660.2%8%8%8%6.5%5.3%2.3%1.8%
May 202653.5%11%11%11%7.3%2.5%2.3%1.4%
Jun 202654.4%11.2%11.2%9.2%7.4%3.2%2%1.4%
Jul 202655.9%7.6%11.5%11.5%6.2%2.1%3.8%1.5%
Aug 202657.1%11.4%9.3%11.4%6.2%0.95%1.9%1.7%
Sep 202653.1%8.9%16.5%10.9%5.9%0.84%2.5%1.4%
Oct 202652.8%16.4%8.9%8.9%7.2%2.5%2.2%1.1%

How has branded search for Pencarrow Private Equity and Waterman Capital changed in New Zealand over the last 12 months?

3 findings

How did search popularity change for New Zealand private equity firms in October 2026?

2 changes

  1. In October 2026, Waterman Capital overtook Direct Capital and Pioneer Capital to rank 2nd among private equity firms in New Zealand, with 16.4% of the searches.

  2. In October 2026, Pencarrow Private Equity gained share of searches among private equity firms in New Zealand, from 5.9% to 7.2%.

How are Pencarrow Private Equity’s and Waterman Capital’s branded searches counted?

2 search terms

Brandwave collects information about searches that people make online using Pencarrow Private Equity’s and Waterman Capital’s names. When viewed over time, estimated search volumes for these branded terms can be used to understand whether interest in the brands is growing, holding steady, or fading.

Pencarrow Private Equity

1 branded search term

  • pencarrow private equity

Waterman Capital

1 branded search term

  • waterman capital

How the Brand Demand Index is measured

Other head-to-heads among private equity firms

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