Specialist investment firm Bridges Fund Management has opened a new office in Manchester - its first in the North.
The specialist sustainable and impact investor said the move comes as it looks to partner with more impact-driven management teams in the regions.
It's the first time Bridges, which was founded in 2002, has established a permanent presence in the North, and is the firm's second base after London.
Simon Braham, formerly of LDC, has been recruited as a partner to build the team and spearhead its investment activities across the region.
Mr Braham said: “Over the last few years, there has been an explosion of interest in purpose-driven business and investment.
"More and more people are recognising that by helping to solve our biggest social and environmental challenges, businesses can tap into long-term growth trends and create lasting economic value.
“There are a growing number of entrepreneurs and management teams across the North who are putting purpose at the heart of their business model and are actively seeking a mission-aligned investment partner. I am looking forward to talking to these teams – and the advisor communities across the region – about how Bridges can support them to accelerate their growth and deepen their impact.”
Bridges invests in growth companies that are helping to "create a more inclusive and sustainable future".
It typically partners with management teams of purpose-driven companies with revenues between £5m and £50m, investing between £2m and £20m of equity to help them execute organic growth, buy-and-build or multi-site roll out strategies.
Its current northern investments include GEV, a wind turbine repair business based in Hull, and the Ethical Housing Company, an ethical landlord on Teesside.
Its investor base also includes a number of local authority pension funds in the North.
Philip Newborough, CEO of Bridges Fund Management, added: “Establishing a permanent presence in Manchester was a natural next step for Bridges, given the ever-growing appetite for sustainable business and the fact that a number of our biggest investors are based in the north.
“Simon is just the right person to lead our efforts in the region. His track record as an investor speaks for itself, and we are looking forward to drawing on all his experience, as well as resources from across the Bridges platform. By expanding our presence in the region, our goal is to get to know more of these next-generation companies and show them why Bridges should be their growth partner of choice.”
