The private equity firm behind Mowgli Street Food closes £ 65million fund
The Manchester-based private equity firm behind Mowgli Street Food has announced the first closure of one of its £ 65million funds.
Foresight Group, the manager of listed infrastructure and private equity investments, has closed Foresight Regional Investment III LP, which is supported by the Greater Manchester Pension Fund, with support from Clwyd and Merseyside Pension Funds.
Foresight currently manages five regional investment funds, including raising the £ 100 million Foresight East of England Fund (Foresight Regional Investment II LP) in 2019, which applies the same strategy in the East of England, to through an evergreen structure.
The fund will be managed by Foresight’s national collegiate private equity team, with the growth of the Foresight office in Manchester planned to support the deployment of the fund.
The fund will provide the platform from which Foresight can provide both capital investment and expertise to support the development of sustainable and socially responsible small businesses in the region.
James Livingston, Partner at Foresight, said: “We are delighted to welcome new and returning investors to the Fund, who will continue to close the market gap that we have demonstrated with its predecessor.
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“We look forward to supporting the growth of small businesses in the targeted region.”
Director Claire Alvarez added: “Over the past five years we have worked closely with the local community to invest in a range of businesses, supporting great teams and their sustainable growth plans.
“The impact of our activities on the local market is clear and we look forward to continuing this success with this fund.”
Osborne Clarke acted as legal counsel to Foresight Group.