UK managers boost Northern teams

Livingbridge, LDC, and Maven Capital have all announced investment team additions in recent weeks.

Three UK-based private equity firms have added to their investment teams in Manchester and Newcastle to focus on deal making in the north of England.

Livingbridge has hired Charlie Ross from PwC, where he was assistant director of corporate finance. The firm also announced that London-based Matthew Jacobs will transfer to the Manchester office.

This brings the Livingbridge headcount in Manchester to eight, with the team working on half of all the firm’s UK deals in the last 12 months.

Livingbridge – which closed its latest fund on £660 million ($825 million; €774 million) in September – said the new additions to the Manchester team would assist the firm in investing a further £1 billion across the UK in the next five years.

LDC, the buyout arm of Lloyds Banking Group, appointed Guy Bagshaw and John Clarke as investment directors in Manchester. Bagshaw joins from Rothschild, where he led the firm’s regional debt advisory practice and originating and delivering all debt advisory mandates across the North.

Clarke joins from Clearwater International, a global corporate finance house, where he was a director in its M&A advisory practice.

Bagshaw and Clarke will be responsible for identifying investment opportunities, leading transactions, and supporting existing portfolio companies.

Maven Capital has hired Michael Vassallo as an investment director in Newcastle, according to a Real Deals report. He will focus on deal origination in the North East region and joins from FW Capital where he led the SME investment team, according to Maven Capital's website.

According to the latest available data from the British Private Equity and Venture Capital Association, in 2015 private equity firms invested £424 million in 91 companies in the North West, which includes Cumbria, Cheshire, Greater Manchester, Lancashire, and Merseyside.