13th Jun 2022 17:43
Foresight Group Holdings Ltd - infrastructure and private equity investment manager - Announces the reach of first close totalling GBP58 million across two UK regional funds, with the Foresight Regional Investment Fund IV LP focusing on the North East and Yorkshire region, and the Foresight West Yorkshire SME Investment Fund, which invests in West Yorkshire.
Also on Monday, acquires the technology ventures division with Downing LLP, as well as the management of Downing's venture capital trusts and the Enterprise Investment Scheme for an initial GBP13.6 million.
Foresight will pay a further consideration of up to GBP4.2 million over a three-year period subject to certain milestones. The group will acquire the investment mandates of Downing One VCT PLC, Downing Four VCT PLC and Downing Ventures EIS Scheme, reflecting a combined assets under management of GBP275 million.
The acquisition is expected to complete by the end of June, and increase Foresight's VCT net asset value to GBP542 million, as well as private equity AuM to GBP1.2 billion.
Current stock price: 362.16 pence, up 3.5% on Monday
12-month change: down 14%
By Dayo Laniyan; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.