Newspaper article Manchester Evening News

NorthEdge Fund Targets Region's Firms

Newspaper article Manchester Evening News

NorthEdge Fund Targets Region's Firms

Article excerpt

MANCHESTER-BASED NorthEdge Capital, the UK lower mid-market private equity firm has closed its second fund at the hard cap of Pounds 300m.

NorthEdge Capital Fund II was raised in four months and brings total funds under management to over Pounds 0.5bn raised in the last four years.

NorthEdge's maiden fund, which closed in March 2013 raising Pounds 225m, has invested over Pounds 180m in 13 Northernbased businesses operating in a range of industry sectors, employing over 3,000 people.

The majority of these businesses were acquired from corporates and private investors and were mostly management led buy-outs and development capital deals.

The average equity investment into each deal has been c.Pounds 14m.

Grant Berry, managing partner of NorthEdge, which also has an office in Leeds, said: "We are delighted to have reached the hard cap of Pounds 300m in such a short timeframe and that our existing investors continue to show great confidence in supporting the NorthEdge team and offering. …

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