Foresight Group, a listed infrastructure and private equity investment manager, announces the first close of the Foresight Regional Investment III LP at GBP65 million. The Fund is cornerstoned by the Greater Manchester Pension Fund, with strong support from Clwyd and Merseyside Pension Funds.
The fundraise comes off the back of the Foresight Regional Investment LP’s (FRIF) success in the North West, a fund which exemplifies the strength of Foresight’s regional private equity strategy, addressing the gap for impact-focused equity investments in growing SMEs typically valued at up to GBP30 million.
In line with FRIF, the Fund has a flexible mandate and can deliver buyout, minority equity release and growth capital transactions. Foresight currently manages five regionally focused investment funds, notably raising the GBP100 million Foresight East of England Fund (Foresight Regional Investment II LP) in 2019, which applies this same strategy in the East of England, through an evergreen structure.
The Fund will provide the platform from which Foresight can provide both capital investment and expertise to support development of sustainable, socially conscious small businesses in the region.
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