Infrastructure and private equity manager Foresight Group Holdings Limited said on Monday it has reached first close totalling £58 million across two new UK regional funds for the north of England.

“Foresight Regional Investment IV LP will focus on the North East and Yorkshire region and is the fourth fund in this successful strategy,” said the firm.

“This fund will work alongside the Foresight West Yorkshire SME Investment Fund which will invest in West Yorkshire.

“These strategically important funds will support the establishment of new offices in Leeds and Newcastle, which will take Foresight’s UK regional office footprint to ten with the previously announced Dublin office also due to open shortly.

“In addition, Foresight has received top-up investments to its Scottish Growth Fund and North West focused Foresight Regional Investment III LP in the past month.”

Foresight Group Holdings executive chairman Bernard Fairman said: “These two new UK regional funds materially enhance our local footprint and provide further tangible evidence of our ability to deliver high-quality organic growth.

“The implementation of this strategy will continue to see us deliver increasing numbers of sustainable investments and job creation in the regions and, importantly, enhanced returns for our investors.”