Foresight Group, a UK independent infrastructure and private equity investment manager, has held a £38m first close of a new regional fund.
The Foresight Regional Investment Fund, which focuses on investing in SMEs in the North West of England, North East Wales and South Yorkshire, aims to hold a final close of £60m.
Limited Partners included the Greater Manchester Pension Fund, South Yorkshire Pensions Authority and Clwyd Pension Fund. The vehicle targets investments of up to £5m into targeting established, profitable businesses with strong management teams across a broad variety of sectors. It has a flexible investment mandate in terms of deal type, investing in MBOs, MBIs, Equity Release and Growth Capital transactions.
Led by Russell Healey, Partner, Head of Private Equity, James Livingston, Partner, and Mark Burrows, Head of Institutional Capital, Foresight has over £1.8 billion of assets under management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs).