A private equity firm has launched a data analytics and artificial intelligence platform to help identify new investment and buy-and-build opportunities.
NorthEdge Capital, based in Birmingham, Leeds and headquartered in Manchester, manages over 拢650m of private equity funds aimed at the North of England and Midlands regions targeting buy-out and development capital transactions.
The initiative is in partnership with Manchester-based AI developers Peak.
Founded in 2014, Peak has expanded rapidly and currently has a team of 57 people in offices in Manchester, Jaipur, London, Brisbane and Edinburgh.
Peak鈥檚 algorithms, machine learning and deep learning technologies will assist the NorthEdge investment process as the firm continues to seek growth and development capital, management buyouts, equity release and buy-and-build opportunities across the North of England and Midlands regions.
鈥淭here are so many facts to validate that AI-powered businesses are excelling away from the pack, and the use of AI for deal origination at NorthEdge is an extremely exciting example of that,” said Richard Potter, co-founder and CEO of Peak.
鈥淭he results we have seen to-date have the potential to transform the private equity industry as we know it and we鈥檙e looking forward to watching this develop in the coming months.鈥�
NorthEdge has been one of the most prolific private equity investors in the North of England in recent years and has had a busy 2018, investing 拢75m to date as well as raising its 拢120m fund to invest alongside its main Fund of 拢315m.
鈥淲e are constantly seeking new methods of building on our entrepreneurial approach to drive value,鈥� said Ray Stenton, Partner and Head of New 老九品茶 at NorthEdge Capital.
鈥淢achine learning is set to revolutionise deal origination at NorthEdge, and by working collaboratively with Peak we are building a stronger picture of our market size, demographics and the key drivers for investment opportunities.
鈥淎rtificial intelligence will help to automate and drive efficiency for our Origination Team to find outstanding teams who want to engage with an entrepreneurial, and importantly, local private equity firm, to unlock real value for all stakeholders.
鈥淲ith more data, we can make better decisions which means a better outcome both for NorthEdge and our investors.鈥�