Private equity firm Foresight Group has revealed plans to open a Newcastle office ahead of efforts to expand its portfolio of investments in the region.
The listed investment manager has chosen offices on Newcastle's Grey Street for a base from which it will target established small firms that require debt and equity funding, typically up to £5m. Foresight boasts a near £60m North East Fund, the first part of which launched last year and has so far seen two deals constituting about £5.5m.
Now, a £20m injection from British Business Investments - a subsidiary of the British Business Bank - completes the second close. The firm says it has a number of deals on the table and hopes to be making announcements about further investments in the near future.
