The North East’s most active business investor has strengthened its senior team with the appointment of two experienced non-executive directors to its board.
NEL Fund Managers has appointed Judith Hartley MBE and Trevor Castledine to its board as part of its strategic plan to further develop the business and attract additional investment by engaging with both regional and institutional investors.
Judith Hartley is the former CEO of British Business Investments and British Patient Capital, the two commercial investment subsidiaries of the British Business Bank.
A native of the North East, she has more than 35 years’ experience in the financial services sector, working initially in Corporate and SME Banking for Barclays and Bank of Scotland before taking on a number of senior executive roles within the British Business Bank.
Judith served as a member of the government-initiated Taskforce for Women-Led High Growth Businesses and has recently become chair of the Advisory Board for Durham University’s Venture Lab.
Trevor Castledine is Chief Commercial Officer at LGPS Central, which manages the pooled assets of eight Central England Local Government Pension Scheme funds, and has extensive commercial experience gained in banking and finance roles across the Country.
Formerly Managing Director of the portfolio management division at Royal Bank of Scotland, he moved to manage the investments of Lancashire County Pension Fund, subsequently becoming a managing director with investment consultant bfinance and an independent advisor to the £11bn South Yorkshire Pensions Authority.
He has also provided advisory and consulting services to numerous institutional investors and investment managers.
NEL Fund Managers is responsible for managing two of the funds that form part of the Northern Powerhouse Investment Fund II.
It provides investments of up to £2m across its funds under management.
Judith Hartley says: “After spending many years working with alternative debt providers and fund managers at the national level, I am keen to use my experience to help develop SME finance provision in the North East, so local high growth companies can more easily access the finance they need to prosper.
“NEL has been operating in the North East alternative debt market for many years and has already supported many high growth businesses. The company has ambitious plans for the future and I’d like to work with the NEL team to achieve those goals.”
Trevor Castledine adds: “As the son of a small business owner, I’ve seen the challenges that they face at first hand and am passionate about maximising the opportunities available to them to realise their growth potential.
“NEL also has the potential to develop its business offering and I’ll be looking to use my experience to help it achieve its own ambitions.”
Paul Scott, chief executive at NEL Fund Managers, says: “Bringing Judith and Trevor onto our board gives us access to a wealth of experience in the investment management industry and I’m excited to be working closely with such high calibre individuals as we continue to execute on our strategy of expanding NEL’s presence in the direct lending arena and building key relationships with institutional investors.”
“The funds we’re currently investing continues to open up new opportunities for businesses across the North East, helping them to realise more of their growth potential, driving up productivity through the launch of new products and services, and contributing to the health of the regional economy.”
Founded in 1989, NEL Fund Managers provides tailored investment solutions to small and medium-sized businesses right across the North East and has made over 1,100 investments in regional firms.
For more information about NEL Fund Managers’ investment criteria, visit www.nel.co.uk or contact the investment team on 0345 369 7007.
– ends –
For further information, please contact Suzanne Smith at NEL Fund Managers on 07769 914216 or via Suzanne.smith@nel.co.uk
Notes To Editors
About NEL Fund Managers
NEL Fund Managers Limited is North East England’s most active business investor, providing financial products to small and medium-sized businesses right across the region, and is authorised and regulated in the UK by the Financial Conduct Authority.
NEL is also currently responsible for managing the North East Growth Capital Fund supported by the European Regional Development Fund, which offers unsecured investments of up to £500,000 to established businesses looking to realise their growth potential.
About the Northern Powerhouse Investment Fund II
· Operated by the British Business Bank, NPIF II provides a mix of debt and equity funding. NPIF II will offer a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million. It works alongside the Combined Authorities, Local Enterprise Partnerships (LEPs), and Growth Hubs, as well as local intermediaries such as accountants, fund managers and banks, to support the North’s smaller businesses at all stages of their development.
· The funds in which the NPIF II invests are open to businesses with material operations, or planning to open material operations, in: Greater Manchester, Lancashire, Cheshire & Warrington, Cumbria, Liverpool City Region, Leeds City Region, South Yorkshire Combined Mayoral Authority, York & North Yorkshire, Humber and East Yorkshire, Northumberland, County Durham, Tyne & Wear
· Supported by Nations and Regions Investments Limited, a subsidiary of British Business Bank plc, the Bank is a development bank wholly owned by HM Government. Neither Nations and Regions Investments Limited nor British Business Bank plc are authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).
The North East’s most active business investor has strengthened its senior team with the appointment of two experienced non-executive directors to its board.
NEL Fund Managers has appointed Judith Hartley MBE and Trevor Castledine to its board as part of its strategic plan to further develop the business and attract additional investment by engaging with both regional and institutional investors.
Judith Hartley is the former CEO of British Business Investments and British Patient Capital, the two commercial investment subsidiaries of the British Business Bank.
A native of the North East, she has more than 35 years’ experience in the financial services sector, working initially in Corporate and SME Banking for Barclays and Bank of Scotland before taking on a number of senior executive roles within the British Business Bank.
Judith served as a member of the government-initiated Taskforce for Women-Led High Growth Businesses and has recently become chair of the Advisory Board for Durham University’s Venture Lab.
Trevor Castledine is Chief Commercial Officer at LGPS Central, which manages the pooled assets of eight Central England Local Government Pension Scheme funds, and has extensive commercial experience gained in banking and finance roles across the Country.
Formerly head of the portfolio management division at Royal Bank of Scotland, he moved to manage the investments of Lancashire County Pension Fund, subsequently becoming a managing director with investment consultant bfinance and an independent advisor to the £11bn South Yorkshire Pensions Authority.
He has also provided advisory and consulting services to numerous institutional investors and investment managers.
NEL Fund Managers is responsible for managing two of the funds that form part of the Northern Powerhouse Investment Fund II. It provides investments of up to £2m across its funds under management.
Judith Hartley says: “After spending many years working with alternative debt providers and fund managers at the national level, I am keen to use my experience to help develop SME finance provision in the North East, so local high growth companies can more easily access the finance they need to prosper.
“NEL has been operating in the North East alternative debt market for many years and has already supported many high growth businesses. The company has ambitious plans for the future and I’d like to work with the NEL team to achieve those goals.”
Trevor Castledine adds: “As the son of a small business owner, I’ve seen the challenges that they face at first hand and am passionate about maximising the opportunities available to them to realise their growth potential.
“NEL also has the potential to develop its business offering and I’ll be looking to use my experience to help it achieve its own ambitions.”
Paul Scott, chief executive at NEL Fund Managers, says: “Bringing Judith and Trevor onto our board gives us access to a wealth of experience in the investment management industry and I’m excited to be working closely with such high calibre individuals as we continue to execute on our strategy of expanding NEL’s presence in the direct lending arena and building key relationships with institutional investors.”
“The funds we’re currently investing continues to open up new opportunities for businesses across the North East, helping them to realise more of their growth potential, driving up productivity through the launch of new products and services, and contributing to the health of the regional economy.”
Founded in 1989, NEL Fund Managers provides tailored investment solutions to small and medium-sized businesses right across the North East and has made over 1,100 investments in regional firms.
For more information about NEL Fund Managers’ investment criteria, visit www.nel.co.uk or contact the investment team on 0345 369 7007.
