Foresight appoints new Partner
Claire Alvarez has been promoted to Partner by Foresight Group, a listed infrastructure and private equity investment manager.
Alvarez, who joined Foresight from Deloitte as a senior investment manager in 2016, has played an important role in establishing Foresight in the North West as an active and supportive investor in SMEs.
She led the successful investment in Lancashire-based e-Commerce firm Hedges Direct, which generated a 5.6x return over the investment period as revenues soared 93 per cent.
Alvarez has also worked closely with Nisha Katona, MBE, founder of Mowgli Street Food, supporting the business through its rapid growth from three to 15 restaurants and through the challenges caused by the pandemic. She also led the investments into Salford companies UDP and Tudor Group, fast-growing languages services provider, DA Languages, and Merseyside-based fire alarm and electrical services company, Fieldway.
Alvarez, who is passionate about diversity – both by supporting female-led businesses and inspiring and encouraging more women to take a career in private equity – will formally join the partnership on 1 August.
She says: “I am delighted to be joining the Foresight Partner team. I am grateful to my colleagues and senior management for the support and teamwork that has helped me achieve this goal.
“I believe Foresight has made significant strides in the North since establishing an office in Manchester in 2016 as part of its commitment to regional expansion. We are deeply committed to supporting ambitious SMEs, creating jobs and opportunities along the way.
“It’s an exciting time for the regional economy. With so much focus on levelling-up, confidence is clearly returning after the pandemic and the lengthy period of uncertainty over the EU exit. We have been privileged to work with some outstanding entrepreneurs and management teams. We look forward to supporting many more.”
Following the success of Foresight’s Regional Investment Fund – which backed 17 businesses in Cheshire, Greater Manchester, North Wales and Yorkshire and created around 600 jobs - a second Regional Investment Fund has been raised. With the support of The Greater Manchester Pension Fund, and Clwyd and Merseyside Pension Funds, the second fund raised £65m in its first close.
Russell Healey, Partner and Head of Private Equity at Foresight, says: “Claire has done an outstanding job since joining the Foresight team five years ago. She has played an integral part in growing our business and profile in the North and, after a year like no other, she has worked tirelessly to support our portfolio and deliver a market-leading exit. Claire fully deserves this promotion to Partner.
“I am looking forward to seeing her continue to flourish and shape the future of Foresight.”