A firm that manages the £96m Northern Powerhouse Investment Fund is to close its Liverpool office just a year after opening – but the team will stay in the city. Tony McDonough reports

Private equity investor Maven Capital Partners is to close its Liverpool base just over a year after opening with its team to share an office nearby.

In January 2022 Maven, which manages the £96m Northern Powerhouse Investment Fund (NPIF), announced it was opening an office at No 4 St Paul’s Square in the heart of Liverpool’s commercial district.

At the time investment manager Paul Leyland said: “Liverpool has a vast community of owner-managed businesses supported by outstanding professional advisers, however a very small number of equity providers are based here.

“Establishing a presence in Liverpool will help unlock significant investment into the region.”

On Thursday Maven announced the office was to close with the team to share an office just across St Paul’s Square in The Plaza with Ludlow, a wealth management company.

Ludlow was acquired by Maven’s owner Mattioli Woods in 2021. Ludlow will be sharing its Burnley, Preston, Southport and Liverpool offices with Maven.

Ludlow specialises in providing financial planning and wealth management services to clients who together have entrusted more than £1.8bn of assets with them.

Via NPIF, Maven Equity Finance supports early stage and established companies with funding ranging from £50,000 to £2m. It has already invested more than £8m in Liverpool city region businesses.

Ryan Bevington, partner at Maven, said: “Maven already had an unrivalled regional office network across the UK, and teaming up with Ludlow gives us a far greater regional presence in the Northern Powerhouse region than any other SME-focused equity funder.

“In addition, Ludlow is well networked within its local communities and we look forward to working with them to build on our relationships with ambitious local businesses.”