Some of the leading voices in the North’s private equity and investment community have stepped up their efforts to tell political leaders about the importance of private capital for the UK economy – particularly the role it can play in driving growth in the regions.
Garry Wilson, founder of Endless, and Lucie Mills, investment director at NorthEdge, were both part of a British Private Equity & Venture Capital Association (BVCA) team that met with Labour’s Shadow Chancellor Rachel Reeves in Leeds on Friday.
Wilson is the current chair of the BVCA.
Garry Wilson with Rachel Reeves
The pair were also part of a group that met Greater Manchester Mayor Andy Burnham last week at a meeting in London.
And both will be speaking at the Rainmakers conference, organised by TheBusinessDesk.com on 20 March 2024.
Mills said: “At both sessions we were able to bring to life the work we do with our portfolio companies and our amazing management teams – highlighting the real-world and very human impact of private capital.
“It’s a privilege to represent NorthEdge in these important discussions. We recognise that as regionally-focussed investors we have a huge part to play in ensuring our industry can continue to contribute positively to our economy and society. We’re so proud of the number of national and international businesses that we have supported that are based in the UK regions, which is why we’re committed to using our voice; working alongside Government and Education; and delivering sustainable returns for our stakeholders – demonstrating the attractiveness and the power of the regions.”
Rachel Reeves said: “The private equity and venture capital sector is incredibly important for fulfilling our mission to grow the economy. The work that you do ensuring that businesses can attract fast growing capital and the turning around businesses is vital for economic growth.”
One of the issues raised with Reeves was the importance of broadening pension fund access to private equity and venture capital.
Members also used the meeting to highlight the value of their work in growing and supporting British businesses to the Shadow Chancellor, and deploying the £145bn of dry powder capital that is available to be invested in the next 3-5 years.
The Shadow Chancellor emphasised her commitment to boosting pension investment in private capital in order to drive better returns for savers and growth for British businesses.
Policy conclusions from the BVCA’s new Investment Commission were also discussed, as well as key areas in Labour’s recent financial services review, including: Making the UK a world leader in sustainable finance; Labour’s plan to reinvigorate capital markets; Pooling LGPS and reviewing the state of pensions in the UK.
Projecting a strong voice for the region’s homegrown Northern investment businesses is one of the founding principles behind the first Rainmakers Conference to be held at The Point conferencing facilities at the Emirates Old Trafford on March 20, 2024 and organised by TheBusinessDesk.com.
The conference will be an opportunity to not only celebrate the contribution from funds raised and deals created, but also to look to the future at the challenges ahead.
The event has been forged alongside the key partners from private equity and specialist financiers in the North, and backed by elite teams of advisory businesses, the event will bring together funders, entrepreneurs, business leaders to focus on opportunities and challenges.
The partners in the event are Endless LLP, NorthEdge, Palatine, TDC, KPMG, Shawbrook, Rowan and DSW.
