The Royal Bank of Scotland’s Private Equity group is expanding to include NatWest Development Capital (NWDC) in its Edinburgh office and has appointed Derek Gardner director of the office.
Gardner’s venture capital experience includes eight years with NatWest Equity Partners, during which he helped establish its Scottish office in 1989 before moving to Manchester, where he was director in charge of the north-west of England.
Gardner commented: “The venture capital migration to larger deals means there has been less focus on the sub-£20m deal market. I am looking forward to addressing this opportunity particularly within the framework of The Royal Bank of Scotland Group and the resources that it offers.” The appointment is the latest of 16 across the private equity group since the acquisition of NatWest last year.
As part of the enlarged RBS Group, the private equity division has access to significant funding with £1.5bn being committed for investment in the UK and Continental Europe.
Mark Nicholls, managing director of Royal Bank Private Equity, said: “As part of a major expansion we have reorganised our business and recruited excellent people with considerable experience. This policy is already paying dividends as we have seen a tremendous increase in high quality deals across all of our target markets. The addition of NWDC to our Scottish operations will further strengthen our growing business.”