Pinsent Masons advise Northern Gritstone on £215m fundraising

The transaction, which has led to funding commitments from a diverse investor base, will support Northern Gritstone’s investment program focused on university spin-outs in the North of England. The project will see academic spin-outs of science and innovation specialists leading to the launch of a number of start-ups in the region.
Investors include Greater Manchester Pension Fund, West Yorkshire Pension Fund, M&G, Columbia Threadneedle, Lansdowne Partners, Patron Capital, Greater Manchester Combined Authority and Bruntwood as well as Caxton Associates CEO Andrew Law.
A Pinsent Masons team was led by college partner Gayle Ditchburn and business partners Julian Stanier and Sunjay Malhotra.
Commenting on the deal, Gayle Ditchburn said, “This is a transformational fundraiser that will bring substantial investment to northern university spin-outs aimed at generating investment gains for founding universities and economic growth. In the region. The combination of our expertise in the education sector and corporate finance has enabled us to support the founding universities and Northern Gritstone on this strategic project which marks a new era for the financing of education spin-outs. higher in the UK.
Northern Gritstone’s total fundraising target is £500m and is expected to begin deploying capital and making its first investments in start-ups in the coming weeks.
Northern Gritstone Chairman Lord Jim O’Neill said: “Northern Gritstone’s strong investor endorsement is testament to the scale of the opportunities in the world-class science and innovation hubs of the North of England and the impact they produce. By investing in Northern Gritstone, asset managers directly buy the best prospects for the future of the UK economy.
“Today marks an important milestone as Northern Gritstone continues to grow its investor base enabling the business to implement its Profit with Purpose philosophy that underpins everything we seek to do.”

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