Equistone plans to expand in the North

Local press reports that Equistone is looking to expand its Manchester-based team, to assist managing director Steve O'Hare. Equistone stressed that it will maintain its commitments in the North-West region following the spin-out from Barclays.

Equistone is currently in the process of raising its fourth vehicle, Equistone General Partner IV, and is aiming to raise £1.5bn. The company currently has three former Barclays PE funds under management.

Regional expansion within the UK is proving popular at the moment: a majority of UK-based GPs are planning to invest outside London going forward, according to Grant Thornton's latest Private Equity Barometer.

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