Foresight closes East of England Fund on £100m

The vehicle will act as an evergreen fund and was registered in June 2019.

The East of England Fund is the largest of Foresight's five regional funds. The firm has a fully-deployed £39m fund focused on Nottingham, a £58m regional fund backed by the Greater Manchester Pension Fund and the South Yorkshire Pension fund, a £38m Midlands-focused fund, and a £20m fund focused on Scotland.

Foresight has made more than 30 investments over the last year and has a portfolio of around 90 companies, according to a statement. The firm will open an office in Cambridge.

BFinance acted as placement agent.

Investors
The Cambridgeshire Pension Fund is a cornerstone investor in the fund.

Investments
Like its predecessor, Foresight Regional Investment Fund, the fund will typically invest up to £5m in SMEs in the east of England. The fund is sector-agnostic and can invest in both growth capital investments and buyouts.

People
Foresight Group – Russell Healey (partner, head of private equity).
Cambridgeshire Pension Fund – Paul Tysoe (investment manager).

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