Two well-known regional dealmakers have been rewarded for their contributions to the success of hundreds of North East businesses with promotions at regional fund management firm NEL Fund Managers.
David Thomas has become an investment manager with the Newcastle-based firm, while Jonathan Luke has been promoted to portfolio manager.
David is part of the team working with businesses looking for investments from the Finance For Business North East Growth Fund that NEL manages, helping them shape their business plans and successfully complete the application process, while Jonathan provides a direct link to the firms in which investments are made, reviewing their progress and acting as a sounding board for their management teams.
Both Jonathan and David hail from the North East, with Jonathan joining NEL after a career in the regional banking industry, and holding the CFA Society’s Investment Management Certificate.
David is a qualified member of the Association of Chartered Certified Accountants and worked for a number of chartered accountancy firms before joining NEL. He has also recently completed the Institute of Chartered Accountants in England and Wales’ Corporate Finance qualifications.
The Finance For Business North East Growth Fund is a general investment fund that is aimed at businesses at a development and growth stage that are based anywhere in the region, and from which investments of up to £400,000 can now be made.
NEL has so far invested over £25m from the Fund, making 125 investments with an average deal value of £204,000, and is continuing to actively search for more North East businesses looking for the capital they require to implement robust growth and development plans.
Yvonne Gale, chief executive at NEL, says: “Both David and Jonathan are highly experienced professionals, and their promotions recognise the depth of experience they offer to both our business and the companies with which we work.
“Our aim with these moves is to further strengthen NEL’s management team in advance of future fundraising work, and to make best use of the knowledge that David and Jonathan have to help us make even better investment decisions.
“They will both take their turns to chair our Investment and Portfolio Committees, and now have more responsibility for the way in which our investments are made and managed.
“The flow of business plans coming to us remains strong, and we are continuing to look for companies right across the North East who need development capital to implement their expansion plans.”
For more information about NEL’s investment criteria, visit www.nel.co.uk or contact the investment team on 0345 369 7007.
