NEL Fund Managers strengthens board

NEL Fund Managers has strengthened its leadership team with the appointment of Judith Hartley MBE and Trevor Castledine as non-executive directors, part of its strategy to expand investment opportunities and attract regional and institutional investors.

Judith Hartley, former chief executive officer of British Business Investments and British Patient Capital, brings over 35 years of financial services experience, having held senior roles at Barclays, Bank of Scotland and the British Business Bank. 

She has also served on the Government’s Taskforce for Women-Led High Growth Businesses and chairs Durham University’s Venture Lab Advisory Board.

Judith said: “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, chief commercial officer at LGPS Central, has extensive experience in banking and pension fund management, including roles at Royal Bank of Scotland, Lancashire County Pension Fund and bfinance. He has also advised numerous institutional investors.

Trevor added: “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.”

NEL Fund Managers oversees two funds under the Northern Powerhouse Investment Fund II (NPIF II), providing investments of up to £2 million to support small and medium-sized businesses across the North East. Since its founding in 1989, it has made over 1,100 investments in regional firms.

Paul Scott, chief executive at NEL Fund Managers, added: “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.”

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