Business Growth Fund (BGF), the £2.5bn state-backed vehicle aimed at financing UK SMEs, has hired former LDC Leeds head John Swarbrick as its head of portfolio.
Swarbrick will be joining immediately to play a key role in overseeing BGF’s rapidly growing portfolio of high growth entrepreneurial businesses, the firm said in a statement.
He will divide his time between BGF’s current six offices, helping the regional directors and their teams with their investee companies.
He will also be part of the senior team monitoring investment quality and resource allocation, as well as a member of the investment committee.
“[John] brings with him a wealth of experience from his 15 years with LDC, a firm with a great and long-standing track record of successfully investing in the UK, and from his time in industry before that,” said BGF chief executive Stephen Welton.
“This appointment completes our senior team and as the pace of our new investment activity continues to increase, we will have further resource available to make positive contributions to our investee companies as they grow and flourish.”
Swarbrick will continue working for LDC in a part time capacity until the end of 2013 supporting John Garner, who has been appointed as LDC’s new director in charge of its Leeds Office.
He will also retain responsibility for a number of LDC’s investments in Yorkshire and the North East.
Swarbrick began his career as a corporate finance advisor with PwC, and was also a finance director of a private equity-backed textile company prior to joining LDC.
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