Foresight completes investment in Beckett Investment Management Group
Private equity and infrastructure investment manager Foresight Group (Foresight) has completed an equity investment into Beckett Investment Management Group Limited (Becketts), a Chartered Financial Planner and regional provider of financial, wealth management and employee benefits advice to private clients and companies, primarily in East Anglia.
This is the third investment from the Foresight East of England Fund, which targets investments in established, profitable SMEs in the East of England.
Founded in 1988, Becketts helps private clients and companies make the right financial choices by providing top quality independent financial and employee benefits advice. Headquartered in Bury St Edmunds and with three other offices across the East of England, Becketts’ 80 members of staff provide market-leading advice to over 2,900 clients, managing GBP775 million of assets across a diversified mix of investment portfolios.
Foresight’s investment will enable Bob Beckett, the founder and Chairman of Becketts to retire, and will support the next phase of development and growth of the company under the leadership of the Managing Director, Ian White. Having acquired the employee benefits team of NW Brown during 2019 and opened a new office in Norwich, this investment will also assist the continuing ambition of Becketts to support individuals and companies in the East of England region and beyond.
Malcolm Streatfield became the new chairperson at Becketts on 1 April 2021. Malcolm was a member of the FCA’s Practitioner’s Panel and has more than 40 years’ experience in financial services – including CEO of the Lighthouse Group.
Foresight is one of the most active investors in SMEs in the UK, with flexible, patient capital to fund companies in any sector through a wide range of transactions and growth stages. With seven offices across the UK, the Foresight team work closely with entrepreneurs and management teams, an approach that has delivered strong returns to investors for over 35 years.
Ian White, Managing Director of Becketts, says: “Foresight’s investment will support the next phase of development and growth for our firm. We are a purpose-led organisation that is passionate about playing a valued role in the community that we serve, promoting financial and emotional health and wellbeing to our clients and to wider society.”
Matt McLoughlin, Senior Investment Manager at Foresight, adds: “Becketts has a well-deserved leading reputation in Suffolk and the wider region as a differentiated and trusted advisor to both private clients and companies, with a strong set of values. Bob, Ian and the team have built a successful business that demonstrates outstanding engagement with the people in its teams and in the communities it serves. The company is well-positioned for continuing growth and we look forward to working together in the coming years.”
Paul Tysoe, Investment Manager, Cambridgeshire Pension Fund, adds: “The investment into Becketts is another exciting opportunity for the Foresight East of England Fund to support a well-established business at the heart of the East Anglia region. Becketts has a strong reputation for delivering outstanding service to its clients and I am looking forward to seeing the company’s next stage of growth.”