Lloyds private equity arm to launch Newcastle office

The private equity arm of Lloyds Banking Group has announced it is opening a new office in Newcastle city centre.

LDC is set to launch its new base on Grey Street in the heart of the city, providing a presence for the firm in the region.

Covering 3,000 sq ft, the new office will be the firm’s newest base, with offices in Aberdeen, Birmingham, Bristol, Cardiff, Edinburgh, Glasgow, Leeds, London, Manchester, Nottingham and Reading.

Martin Draper, chief executive of LDC, commented: “The North East is an increasingly attractive proposition for private equity investors so opening a new office in Newcastle and extending our team felt like the perfect way for us to cement our commitment to the region.

“We see growth prospects across all corners of the UK, and our market-leading regional presence means we’re on the ground, prepared to deploy more of our capital and unique expertise to help business leaders capitalise on what is set to be a year of opportunity.

“This is an exciting new phase in our expansion, demonstrating commitment to our market-leading regional business model.”

Gareth Marshall, head of Newcastle at LDC, added: “We’ve been active in the North East for more than 15 years. Indeed our team all live in Newcastle so we understand the importance of local knowledge and connections, and we recognise the strength of mid-market businesses and the corporate finance community already here.

“This is the first time the UK’s leading regional mid-market private equity business will have a permanent presence in the North East. It’s an exciting step that demonstrates our belief in the North East market.

“The decision to open an office was an obvious one, meaning we’re even better placed to support the ambitions of management teams keen to take the next step on their growth journey.”