Foresight Group Announces £50 Million First Close of South West Fund
Funding | Nov 20, 2024 | Foresight Group
Foresight Group, a prominent FTSE 250 listed private equity and infrastructure investment manager, has launched an evergreen fund with an initial £50 million close, dedicated to supporting small and medium-sized enterprises (SMEs) in South West England. The fund is anchored by Devon Pension Fund and focuses on driving growth in companies with high potential across various sectors and transaction types, including buy-outs and equity releases. This strategic initiative aims to stimulate local economies, generate employment opportunities, and meet SMEs' long-term planning needs. With new offices opening in Exeter and Bristol, Foresight will engage closely with local communities, replicating its successful investment strategies that have yielded strong economic and social returns in other UK regions. Consistent with their collaborative approach, Foresight aims to work alongside entrepreneurs and business communities to facilitate sustainable growth and job creation, emphasizing the firm's commitment to supporting the South West's economic landscape.
Sectors
- Private Equity
- Venture Capital
- Infrastructure Investment
Geography
- United Kingdom – The fund targets SMEs across South West England, impacting regions like Bristol, Cornwall, and Devon.
- South West England – The fund is specifically purposed to stimulate economic growth in South West England.
Industry
- Private Equity – Foresight Group operates in the private equity sector, focusing on investments in SMEs across South West England.
- Venture Capital – The fund supports growing companies, akin to a venture capital model, investing in high-potential businesses.
- Infrastructure Investment – As a part of its broader investment management, Foresight Group is involved in infrastructure projects, relevant to regional development.
Financials
- 50,000,000 – Initial close amount of the Foresight Group's new fund dedicated to South West England.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Foresight Group | Private Equity Manager | Company | A leading FTSE 250 private equity and infrastructure investment manager launching a fund in South West England. |
| Devon Pension Fund | Cornerstone Investor | Company | Provides initial investment for the fund aimed at regional economic support. |
| Family Adventures Group | Portfolio Company | Company | A recipient of investment from Foresight, exemplifying the firm's regional investment strategy. |
| James Morrish | Chair, Investment and Pension Fund Committee | People | Represents Devon Pension Fund in supporting local economic development through investment. |
| Matt Smith | Partner, Foresight Group | People | Key spokesperson and partner at Foresight Group overseeing the fund's deployment in South West England. |