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Finance Yorkshire has appointed The FSE Group to manage two streams of investment in corporate loans.
The appointment follows the announcement of a new fund from Finance Yorkshire to support business growth in the region. Investments are available for eligible Yorkshire and Humber SMEs with ambition to grow, create jobs and improve productivity.
The new fund has been structured to provide SMEs with a range of support through investments in seeds and the growth fund (mainly equity), as well as loans to large and small businesses.
The FSE group will manage the two business loan funds. It was announced in September that Anticus Partners will manage the Seedcorn and Growth feeds.
The new Yorkshire Finance fund is expected to invest more than £ 50million over the next five years as it continues to build its investment portfolio from its previous fund.
The new fund was created from the combined legacies successfully created by Finance Yorkshire and the former South Yorkshire Investment Fund. Finance The Yorkshire JEREMIE and Extension Funds have invested £ 113 million in more than 500 companies in the region.
Finance Yorkshire Managing Director Alex McWhirter said: “We look forward to working with the FSE Group to provide much needed investments for companies with high potential but who cannot access funding from traditional and other sources.
“The FSE Group has established itself as the best candidate following a competitive bidding process and has extensive experience in making investments that help SMEs reach their maximum potential. “
FSE Group CEO Paul Marston added: “We are delighted to have been appointed Fund Manager for these two loan funds and to join Anticus Partners in providing alternative financing options for high growth SMEs in Yorkshire and from the Humber. The FSE Group has been financing and supporting growing SMEs for 20 years and we look forward to building on Finance Yorkshire’s past successes.