Business
Launch of AIB Foresight Impact Fund
Launch of AIB Foresight Impact Fund.
About this update from Foresight Group Holdings Ltd.
[{"type":"text","content":"\n \n \n \n RNS Number : 6788K\n Foresight Group Holdings Limited\n 09 May 2022\n \n \n \n \n LEI: 213800NNT42FFIZB1T09\n \n \n 9 May 2022\n \n \n \n \n \n \n \n Launch of AIB Foresight Impact Fund (\"the Fund\")\n \n \n \n \n \n Foresight Group Holdings Limited (\"Foresight\", \"the Group\"), a leading infrastructure and private equity manager, is pleased to announce that it has been appointed by Allied Irish Banks (\"AIB\"), Ireland's largest financial services provider, to manage a new small and medium-sized enterprise (\"SME\") equity fund[1].\n \n \n \n \n \n AIB will be a cornerstone investor in the Fund, which aims to stimulate job creation and deliver a greener future. The Fund will typically provide equity investments of €2 million to €5 million and will support Irish businesses to contribute to a more sustainable future.\n \n \n \n \n \n AIB has signed an initial commitment of €30 million to the Fund1, which will target a total raise of €75 million over time. Foresight will shortly open an office in Dublin to support the delivery of the Fund and is actively seeking investment opportunities. This is Foresight's first expansion into the Republic of Ireland and the first fund outside of the UK for its Private Equity team. The Dublin office will be Foresight's thirteenth office across what will be seven countries, including the Republic of Ireland. \n \n \n \n \n \n The Fund is positioned to benefit from Foresight's breadth of experience across both its Private Equity and Infrastructure divisions, leveraging each of their specialisms to deliver attractive, risk-adjusted returns to its investors.\n \n \n \n Bernard Fairman, Executive Chairman of Foresight Group Holdings Limited, commented:\n \n \n \n \n \n \"As a sustainability-led alternative asset and private equity manager, Foresight has been supporting UK SMEs for many years, including in their transition to a low-carbon economy. We are delighted to now be partnering with AIB to expand this support to SMEs across Ireland. \n \n \n \n \n \n \"The AIB Foresight Impact Fund represents an exciting new partnership and geographic expansion for the Group and is further evidence of the tangible progress we are making towards delivering our strategic growth plans.\"\n \n \n \n \n \n Enquiries:\n ...