Guests raise a glass to NEL

Aug 26 2009 by Peter McCusker, The Journal

MORE than 120 guests joined past and present members of the NEL Fund Managers team at a champagne reception to celebrate its 20th anniversary.

Prominent business people were joined at the event at Jesmond Dene House by representatives of the region’s legal, banking, accountancy and other intermediary firms, with whom NEL works closely on all the investments it makes.

Chief executive Barrie Hensby spoke about NEL’s history, successes and future plans, with a reply coming from former NEL chairman and well-known regional business figure Miles Middleton.

Originally set up in 1989, NEL Fund Managers provides financial products to small and medium-sized businesses based in the North East, and has invested in well over 200 regional companies in the last five years alone.

Hundreds of companies and thousands of jobs in every part of the region have been supported by investments made from these funds by NEL and its two divisions, debt and mezzanine finance division Evolve Finance and venture capital division NEL Capital.

Hensby, who has led the NEL team for the last 18 years, says: “To be in such beautiful surroundings with so many people who have played important roles in NEL’s development and success over the years made our anniversary reception a very special evening for the whole team.

“Our ambition to help forward-thinking North East companies put their own business developments plans into action remains undiminished after 20 years, and we continue to be very active investors right across the region, despite the prevailing economic conditions.”