British Business Investments commits £10m to support smaller businesses in Northern Ireland

Beach Point, a multi-billion-dollar investment manager with significant presence in the U.S. and Europe will be supporting smaller businesses here with investments between £2 million and £5 million.

The £10million focussed on Northern Ireland is part of an initial £20million commitment by British Business Investments to Beach Point with the remaining funds being used through its advisor network, to support smaller businesses across Scotland and the North of England.

Through its office in Dublin, Beach Point is similarly supporting smaller businesses in the Republic of Ireland where it has launched two dedicated funds since 2018, both backed by the Ireland Strategic Investment Fund (ISIF).

British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, aims to increase the supply and diversity of finance for smaller businesses across the UK by boosting the lending capacity of a range of finance providers. Since it was established in 2014, British Business Investments has committed more than £3bn to providers of finance to UK smaller businesses.

Judith Hartley, CEO, British Business Investments, said: “We are particularly pleased to support Beach Point Capital Management and their focus on supporting smaller businesses in Northern Ireland. British Business Investments is committed to ensuring smaller businesses across the UK can access as diverse a range of finance options as possible, to help them grow and succeed. This commitment to Beach Point Capital Management helps to diversify the finance market and targets investment at specific regions in the UK, unlocking growth for smaller businesses and reducing regional imbalances.”

Shane Lanigan, portfolio manager, Growth Lending, Beach Point Capital Management, added: “We have witnessed first-hand the success of high-growth, founder-led SME’s in Northern Ireland, and we look forward to continuing our support for businesses in the region through non-dilutive, flexible capital solutions. These companies are vital to the region’s economy, and we’re proud to work with them to amplify their positive impact while delivering attractive potential returns for our investors, such as BBI, through thoughtfully structured investments in these growing companies.