Foresight Group (Foresight), a listed regional private equity and infrastructure investment manager, has held the first close of the Foresight North East Fund.
The Fund is targeting a £60 million raise and has been made possible through funding from Durham County Council’s Pension Fund, from which £18 million has been committed to the launch, with further support from Teesside Pension Fund.
Building on Foresight’s strong track record of working with high growth, established smaller companies across the UK, the new Fund will provide equity investments of up to £5 million.
The fund will support companies across all sectors with headquarters or significant operations in County Durham, East Riding of Yorkshire, North Lincolnshire, North Yorkshire, Northumberland, Tyne and Wear, Teesside and West Yorkshire.
The Fund will support economic growth and deliver a positive social and economic impact across the region – creating high-quality, local jobs. Since 2016, Foresight’s regional funds have created thousands of local jobs in regions throughout the UK.
