FSE appointed to manage business loan funds
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Finance Yorkshire has appointed The FSE Group to manage two business loan investment streams.
The appointment follows news about a new fund from Finance Yorkshire to support business growth across the region. Investments are available to eligible SMEs across Yorkshire and the Humber with ambitions to expand, create jobs and improve productivity.
The new fund has been structured to provide SMEs with a range of support through Seedcorn and Growth Fund (primarily equity) investments, along with large and small Business Loans.
The FSE Group will manage the two Business Loan funds. It was announced in September that Anticus Partners will manage the Seedcorn and Growth streams.
Finance Yorkshire’s new fund is expected to invest more than £50m over the next five years as it continues to realise its investment portfolio from its earlier fund.
The new fund has been created from the combined legacies successfully created by Finance Yorkshire and the former South Yorkshire Investment Fund. Finance Yorkshire’s JEREMIE and Extension Funds invested £113m in more than 500 companies in the region.
Finance Yorkshire Chief Executive, Alex McWhirter said: “We’re looking forward to working with The FSE Group to provide much-needed investment to companies with great potential but who are unable to access finance from traditional and other alternative sources.
“The FSE Group emerged as the best candidate following a competitive tendering process and they have wide-ranging experience of delivering investments that help SMEs to reach their maximum potential.”
The FSE Group CEO, Paul Marston added: “We are delighted to be appointed fund manager for these two loan funds and join Anticus Partners in providing alternative finance options to high growth SMEs across Yorkshire and the Humber. The FSE Group has been funding and supporting growth SMEs for 20 years and we look forward to building on Finance Yorkshire’s previous success.”