Mercia adds £80 million to its £1.4 billion of assets under management

Published by

Peter Davison

Regionally-focused specialist asset manager Mercia has added £80 million of managed funds to its £1.4 billion of assets under management, it said yesterday (Tuesday).

The inflows include:

Frontier Development Capital continues to grow following its recent acquisition by Mercia, with an additional £30 million raised for its FDC Debt LP fund
£18 million has been raised by the Northern Venture Capital Trusts
Mercia's latest Knowledge-intensive Impact Enterprise Investment Scheme fund raised £13.6 million
The Mercia-managed Northern Powerhouse Investment Fund received £10.3 million of additional equity allocation from the British Business Bank
The Mercia-managed Midlands Engine Investment Proof-of-Concept Fund received £8.5 million of additional equity allocation from the British Business Bank

Dr Mark Payton, CEO of Mercia Asset Management PLC, said: "Two things stand out from these new inflows: our ability to raise additional funds from across our different pools of capital, and our ability to do this during a difficult fund raising period in the UK.

"Together, these new inflows highlight the strength of the Mercia model, and the investor confidence we have built through our investment track record.

"It is also pleasing to see FDC immediately making a positive impact as part of the Group, following its successful integration.

"As a debt-free Group, we are in a robust position from which to support our existing portfolio companies and identify new opportunities, as Mercia builds on its position as a leading, regionally based, partner of choice for ambitious entrepreneurs."

Peter Davison

Peter Davison is deputy editor of The Business Magazine. He has spent his life in journalism – doing work experience in newsrooms in and around Bristol while still at school, and landing his first job on a local newspaper aged 19. By 28 he was the youngest newspaper editor in the country. An early advocate of online news, he spent the first years of the 2000s telling his bosses that the internet posed both the biggest opportunity and greatest threat to the newspaper industry and the art of journalism. He was right on both counts. Since 2006 he has enjoyed a career as a freelance journalist. He lives in rural Wiltshire with one wife, two children, and three cats.