NorthEdge Capital founding partner Dan Wright has left to pursue other interests while the firm has made several senior appointments.
Wright will study for a masters degree in international relations at the University of Manchester.
“As a founding partner, Dan has played a pivotal role in the formation and subsequent growth of NorthEdge, and has been integral in the raising of two significant funds and the success of our portfolio businesses,” said Grant Berry, managing partner at the private equity firm, which invests in Northern and Midlands businesses.
“On a personal note, I have always valued Dan’s guidance and insight, and his support as a partner of the business has been critical in driving NorthEdge forward.”
NorthEdge promoted head of Manchester Jon Pickering to partner following a number of successful investments and exits, including the initial investment and subsequent exit of Utiligroup, which delivered a 5.7x return.
Also in the new business team, Phil Frame and Tom Rowley have both become directors in recognition of their exceptional work in recent years in driving forward NorthEdge’s Manchester and Leeds offices respectively.
Prem Mohan Raj, chief financial officer, has been promoted to partner. He brings a wealth of experience to the firm from his previous role as CFO of Livingbridge, which manages a range of private equity funds.
Ian Plumb, portfolio director, has been promoted to head of portfolio, to ensure the firm continues to engage fully with management teams within the portfolio so that opportunities are maximised to create shareholder value.
“NorthEdge’s market position and continuing growth requires us to prepare for future opportunities and these key appointments demonstrate our ambitions as one of the largest private equity firms outside of the capital,” Berry added.
NorthEdge also recently exited Sumo Digital, generating a 4.4x return, and Fine Industries , generating 2.5x. There were also recent IPOs for Ramsdens Financial and Accrol Papers.