Foresight Group (Foresight), a leading listed private equity and infrastructure investment manager, has announced the opening of its new office in Dublin. This is Foresight’s first office in Ireland and will be located at Carmichael House, 60 Lower Baggot Street.
It is the first of three offices planned to be opened this year, the others being in the UK in Leeds and Newcastle.
The team based in the Dublin office will mainly source, execute and manage investments for the AIB Foresight SME Impact Fund (the fund) as well as support Foresight’s other activities in Ireland. With a cornerstone investment from Allied Irish Banks (AIB), the Fund reached its first close at €30 million in early July 2022.
Barclay Clibborn has joined the Foresight team as Principal of the Fund and Philip Gardiner has joined as Investment Director. Barclay brings over 20 years’ experience, most recently as Head of Strategy and Corporate Development at Bord Gáis Energy, with prior experience in corporate finance, environmental services and telecommunications industries. Philip has over ten years’ experience financing SMEs, with eight years at private equity investor Renatus Capital Partners where he was responsible for managing investments in growing Irish SMEs across a broad range of sectors.
The AIB Foresight SME Impact Fund will provide €2m to €5m investments to smaller companies in both Ireland and Northern Ireland, with the ability to make smaller or larger investments. This will support businesses with their net zero plans, stimulate high-quality, local job creation and accelerate the transition towards a low carbon economy – ensuring a greener future across the island of Ireland. The Fund aims to raise €75 million.
