Foresight Group enters Irish SME investment market

Investment group with good SME job creation record in UK is driving €30m AIB Foresight SME Impact Fund

Barclay Clibborn, James Livingston and Philip Gardiner of the UK-based Foresight Group, which has opened a new office in Dublin.

Private equity and infrastructure investment manager Foresight Group has opened a new office in Dublin.

New appointees in the office at Carmichael House, 60 Lower Baggot Street, include Barclay Clibborn, principal, and Philip Gardiner, investment director, who will source, execute and manage investments for the AIB Foresight SME Impact Fund.

The AIB cornerstone investment fund reached its first close at €30 million in early July 2022. The fund will provide €2m to €5m investments to smaller companies in Ireland and Northern Ireland. The fund aims to raise €75m.

The fund will support businesses with their net-zero plans, stimulate high-quality, local job creation and accelerate the transition towards a low-carbon economy.

James Livingston, partner at Foresight Group, said: “Our presence in Dublin offers us a significant foothold in a critical market. In Barclay and Phillip, we have two highly capable, experienced and respected professionals joining to build our presence in the market.” 

Barclay Clibborn brings over 20 years’ experience, notably as head of strategy and corporate development at Bord Gáis Energy. He has also worked in corporate finance, environmental services and telecommunications industries.

Philip Gardiner has over ten years’ experience financing SMEs, with eight years at private equity investor Renatus Capital Partners where he was responsible for managing investments in growing Irish SMEs across a broad range of sectors.

In 2021, Foresight’s private equity funds invested into 58 SMEs in the UK, creating over 500 jobs. Foresight’s sustainable infrastructure division manages more than 330 sustainable assets globally, generating power from more than 3GW of green energy assets.

In Ireland, Foresight has recently invested in the MaresConnect interconnector project which will link the power markets of Ireland and Great Britain and has existing SME investments operating in the country, such as Hospital Services Ltd and Usheru.

The Dublin office is the first of three offices Foresight plans to open this year, along with UK offices in Leeds and Newcastle.