Fund manager wins £90m EU-backed private debt mandate

By Daniel Lanyon on Wednesday 30 August 2017

Alternative Lending

Maven Capital Partners UK LLP has been appointed to manage the Debt Fund across both West Midlands and East & South East Midlands regions.

Maven Capital Partners will be investing its new war chest across the West Midlands and East & South East Midlands regions.

Maven Capital Partners has been appointed to manage the £90m debt fund for the Midlands Engine Investment Fund.

The private equity firm, which has focus in the SME space, has launched two separate fund entities as part of the Midlands Engine Investment Fund initiative with £50m geared to the West Midlands and £40m in the East & South East Midlands. 

Maven’s existing team operates out of Birmingham, while Maven’s regional presence will be further strengthened soon, the firm says, with the opening of an East Midlands office during the next few weeks, and Maven is currently in the process of making a number of key local appointments to the Midlands investment team.

Maven also already manages a number of similar regional debt or equity mandates across the UK.

The fund will invest across the ten areas: Black Country, Coventry & Warwickshire, Greater Birmingham & Solihull, The Marches, Stoke & Staffordshire and Worcestershire in the West Midlands; and Derby, Derbyshire, Nottingham & Nottinghamshire , Greater Lincolnshire, Leicester & Leicestershire and South East Midlands in the East & South East Midlands.

MEIF was announced in the March 2016 Budget, and is a partnership between the British Business Bank (BBB) and Midlands LEPs, with the aim of boosting the region’s economy and supporting the growth ambitions of its smaller businesses. 

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank. The initiative is also supported by the Department for Business, Energy and Industrial Strategy as well as ten Local Enterprise Partnerships across the region’s geography. 

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