Foresight boosts PE team with Inflexion’s Cordrey

The hire follows a £38m first close on Foresight’s Regional Investment Fund and the opening of its Manchester office.

London-based private equity and infrastructure investor Foresight Group has hired John Cordrey as an investment manager as it continues to expand its private equity team, the firm said.

Cordrey joins from Inflexion Private Equity, where he was hired as an investment executive in September 2015. He qualified as a chartered accountant at PricewaterhouseCoopers, and is specialised in M&A and financial due diligence, with experience within the business services, retail and consumer, health and pharma, industrials and energy sectors.

Cordrey joined Foresight in March, according to his LinkedIn profile, and will be based in the firm’s London headquarters.

“John brings experience of larger transactions and a genuine interest in investing in SMEs, and will help identify opportunities for investment across a wide range of sectors,” Foresight partners Russell Healey said in the statement. “John’s arrival brings our private equity team up to fifteen investment professionals.”

In December 2015 Foresight held a £38 million (€49 million; $55 million) first close on the Foresight Regional Investment Fund, which is seeking £60 million. The fund will target investments of up to £5 million in profitable growth companies in the North West of England, North East Wales and South Yorkshire.

Investors in the fund include the Greater Manchester Pension Fund, the South Yorkshire Pensions Authority, and Clwyd Pension Fund, according to PEI Research & Analytics.

The hub for the fund is the firm’s new Manchester office, which opened in March. This was followed by the hire of Claire Alvarez, who joined the firm from Deloitte as a senior investment manager in the Manchester office.

Earlier this month Foresight made two appointments to boost its regional private equity teams, hiring Mike Quinn as senior investment manager in its Nottingham office and Matthew Pomroy as investment manager in its Manchester office.

From its Nottingham office, Foresight manages the Foresight Nottingham Fund, a £40 million vehicle which invests in growth businesses in Nottingham and Nottinghamshire.