Supporting the launch of the Foresight South West Fund
On 10th July, I was pleased to attend the official opening of Foresight Group’s new office in Exeter, in my capacity as Chair of Devon County Council’s Investment and Pensions Committee. I was joined by Councillor Caroline Leaver, Chair of Devon County Council.
The event marked an important milestone for the Foresight South West Fund, which has now reached £100 million following investment from the Devon Pension Fund and Avon Pension Fund.
Investing in local growth
Foresight is a leading regional private equity and infrastructure investment manager, and this new fund is dedicated to supporting the growth of small and medium-sized enterprises (SMEs) right across the South West – including Devon, Cornwall, Somerset, Dorset, Gloucestershire, Wiltshire, Hampshire, Oxfordshire and Avon.
The opening of the Exeter office, along with the appointment of Jamie Pelmear as Investment Associate, demonstrates Foresight’s commitment to building a strong local presence. Jamie brings over ten years of experience working with growing businesses in the Exeter area and will be identifying and supporting promising local companies with long-term growth potential.
Why this matters for Devon
As I said at the launch:
"We are delighted to see Foresight open an office in Exeter. There is a thriving community of small companies across Devon, and from this new office, this fund will help local companies grow and provide local jobs, whilst still delivering the investment returns we need to meet our liability to pay pensions."This is exactly the kind of investment I want to see the Devon Pension Fund making. It’s about generating returns for our pension fund members as our primary duty, but also about directing capital into our regional economy, helping local businesses expand, and creating jobs in our communities.
Responsible investment in action
The Foresight South West Fund shows how the Devon Pension Fund can be a force for good. We’re proving that responsible, locally-focused investment can deliver both financial returns and real benefits for the people of Devon. It is particularly appropriate for me, following my years of commitment to the Federation of Small Businesses in Mid Devon.
I look forward to seeing the fund support ambitious businesses across our region in the years ahead.