Investment Manager
New Ground Capital Limited
New Ground Capital is a specialist impact investment manager recognised for pioneering institutional build-to-rent housing and impact investment in NZ since 2014. New Ground’s innovative impact funds and rental housing developments attract institutional capital by aligning social outcomes with commercially sound investment strategies.
Roy Thompson, Co-Founder & Managing Director
Roy brings over 30 years’ experience founding and growing businesses spanning housing, investment management, manufacturing and hospitality.
Earlier in his career, he was Managing Director and Global Head of Product Management and Investment Solutions at Deutsche Bank Private Wealth Management (EUR200 billion funds under advice). A member of the global management committee, he led a team of up to 200 investment professionals across 15 countries with responsibility for all FX, credit, hedge fund, real estate, private equity products, and all securities dealing activities. He also conceived and led the implementation of a global portfolio advisory platform to support consistent investment delivery worldwide.
In NZ, Roy held senior management roles at Westpac, including leading Private Wealth Management nationally and Business Banking for Auckland and Northland.
Beyond his professional work, Roy and his wife Rachel are custodians of the Mamaku Point Conservation Reserve on Rakiura | Stewart Island, where they actively support native biodiversity restoration and environmental education.
Peter Watson, Investment Director & CFO
Peter is a qualified Chartered Accountant and experienced investment professional with a strong focus on impact-driven finance. At New Ground he focuses on financial strategy, planning, and capital deployment across the firm’s development and investment platforms.
Peter plays a central role in the Bay of Plenty Housing Equity Fund, bringing a disciplined investment approach and deep understanding of housing and social infrastructure. He is also part of the management teams for the Impact Enterprise Fund and Homes for Tamariki Fund, where he has led due diligence and investment oversight across a broad range of ventures.
Prior to New Ground, Peter gained experience at Ernst & Young in transaction advisory and audit, and began his career at the IRD. He holds a Post Graduate Diploma in Business and a Bachelor of Business from Massey University. Peter is passionate about using capital to drive positive social outcomes and strengthen communities.
Gemma Deftereos, Finance & Impact Analyst
Gemma joined New Ground in 2025 and brings a diverse professional background and a deep passion for research, education, and policy to her role.
Gemma studied at the University of Auckland, where she completed conjoint degrees in Commerce and Global Studies, majoring in Economics, Commercial Law, International Relations, and Business. During her studies, she developed a strong foundation in critical thinking, analysis, and communication—skills she has applied across a broad range of roles.
She has worked in academic services, accounting, dance and education. Her overseas experience in Norway, where she worked in hospitality and fitness instruction, further strengthened her adaptability, cross-cultural communication, and leadership skills.
Gemma is passionate about her role in conducting impact and financial analysis across a range of affordable housing projects that are making a positive impact on society.
