Hellaby Holdings Ltd is planning a trans-Tasman spending spree, saying one-third of its investments will be Australian within four years.
Only 5% of the listed investment vehicle's portfolio is currently in Australia.
The company says its New Zealand investments have reached maturity.
Hellaby's chief executive John Williamson says the company is entering four years of concentrated growth.
The company says its first-quarter profit has been tougher than expected but it is on target and ahead of last year.