Murphy leaves NorthEdge for Seneca role
TIM Murphy, the well-known financier, has joined Seneca Partners, the new specialist finance business.
Murphy, who has just left private equity firm NorthEdge Capital will focus on developing Seneca’s North West Investment Fund, which is targeting companies suffering from a degree of financial stress.
Seneca, based in Haydock and Manchester, was launched in September by corporate financier Ian Currie. As well as its investment fund it plans to raise an EIS Fund for fast growing small businesses.
Murphy, from Bolton, was formerly national managing director of Royal Bank of Scotland’s structured finance business and from 2006 was a corporate finance partner at Deloitte in Manchester.
He said: “Joining Seneca is a really exciting opportunity, there is a huge funding gap for SME’s that are suffering financial stress and Seneca has the access to capital and the commercial flexibility through a strong team to deliver solutions.”
Ian Currie added: “We are delighted Tim has joined us. This represents a major step in the development of Seneca. Tim brings a wealth of experience and expertise to us. We are now extremely well placed for 2012 and are seeing many investment opportunities in the stressed space.”
Dan Wright, co-founder of NorthEdge Capital said: “We continue to have a close relationship with Tim and wish him all the best with his new venture. This move underlines the focus of NorthEdge on the lower to mid-market PE sector.”
NorthEdge Capital is understood to be making progress towards raising its first fund.
