Braveheart to manage £50m N Ireland fund

Published on 01/03/2012 00:00

Fund manager and investor Braveheart boosted its fee- earning activities yesterday, winning a contract to run a £50 million growth fund for Northern Ireland’s regional development agency.

The Perth-based investment firm, which last year built on its experience of setting up the Scottish Co-investment Fund by joining in a similar initiative aimed at supporting businesses in England and Wales, will manage the Irish fund for ten years.

Chief executive Geoffrey Thomson said the move fitted with the company’s plans to increase the fee earning side of the business, although it would also bring benefits to Braveheart’s directly held portfolio by introducing it to entrepreneurs in a new geographical area.

“This contract brings a high-quality income stream over a ten-year period,” he said. “It will also give our equity teams a taste of a whole new area.”