Merseyside Special Investment Fund (MSIF) has launched a new equity fund that aims to invest £25 million over the next five years.
Merseyside Special Investment Fund (MSIF) has launched a new equity fund that aims to invest £25 million over the next five years.
The new Merseyside Loan and Equity Fund will make investments of between £50,000 and £2 million in established businesses in the Merseyside area. Investments, which might take the firm of loan, mezzanine or equity finance, will be made through MSIF’s in-house fund management team Alliance Fund Managers.
The fund has been financed using capital returned to MSIF from repayment and realisations of previous investments made by its other funds. Currently standing at £10 million, the remaining £15 million is expected to be made available through additional returning capital.
Chairman Andy Rigby added: ‘Funding has been very difficult to secure in recent times which coupled with the economic downturn has hit businesses hard. Now MSIF can continue what it was set up to do, provide a much needed alternative source of finance to the region’s businesses which will in turn strengthen the local economy.’
Since it was founded in 1996, MISF has invested around £134 million in 1,356 businesses. It holds funds from the European Regional Development Fund, which have been matched by private sector funding from Barclays, the Mersey Pension Fund and the Cooperative Bank.
