Newsletters

Back to Northern Powerhouse Investment Fund News – Issue 4

Q&A: Meet the Fund Manager

Name: Gary Guest
Company: FW Capital
Job title: Fund Manager
NPIF area: North West

Describe a typical day as a fund manager?

Every day is different which is what I love about the job. Some days are spent at one of our offices in Manchester, Liverpool, Preston or Cumbria, discussing lending proposals with members of the team.  Other days will be networking with introducers, or spending time with our key stakeholders such as the British Business Bank or the Local Enterprise Partnerships and Growth Hubs.

What is it like working with SMEs across the North?

I feel very fortunate that we get to engage with and support some fascinating businesses and highly ambitious business owners. I’m constantly amazed by the broad spectrum of businesses that operate in our region and it’s great to see some niche markets being developed right on our doorstep. The common theme across all of our SME customers is that they are keen to grow and work with a funder who will support them in the longer term, rather than it being a one-off transaction.

What characteristics do you look for in a new deal?

Management teams are always important – do they have relevant experience, as well as depth of skills and the capacity to manage as the business grows?

Being a debt fund, the ability to service a loan is key for us. As such, past performance is a good initial benchmark for us to judge this, however we do consider more forecast-led proposals if the circumstances are right.

What sectors should we keep an eye on in the North?

We are seeing good growth in a number of sectors such as construction, marketing and business services. Those to keep an eye on are technology and software. We have already supported a number of software businesses who are at the cutting edge of their marketplace and the North West feels like a real hotbed for these businesses.

Proudest career achievement to date

Successfully delivering the £45m North West Fund for Loans Plus from 2010 to 2016 and subsequently being awarded the contract to deliver this NPIF contract by the British Business Bank.  A crucial part of both of these, has been the establishment of a top-notch delivery team. I feel very proud to have worked with the FW Capital team over the last eight years and look forward to more success with them in future.

What do you do in your spare time?

Most of my time is dedicated to family life with my wife and two sons.  When I do get a moment to myself, I’m a keen runner and like to get out at least four times a week.  I‘ve completed a number of 10k events, most recently the Manchester 10k, which the FW Capital team ran together in aid of Derian House Children’s Hospice.

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Editors Notes