Pinsent Masons advises Northern Gritstone on £215m fund raising

20 May 2022 | 08:32 am | 1 min. read

Multinational law firm Pinsent Masons has advised the new investment business Northern Gritstone, founded by the Universities of Leeds, Manchester and Sheffield, on its £215m fund raising.

The transaction, which has led to funding commitments from a diverse investor base, will underpin Northern Gritstone’s investment programme focused on university spin-outs in the North of England. The project will see university spin-outs of science and innovation-based specialists leading to the launch of a number of start-ups across the region.
Investors include Greater Manchester Pension Fund, West Yorkshire Pension Fund, M&G, Columbia Threadneedle, Lansdowne Partners, Patron Capital, Greater Manchester Combined Authority and Bruntwood as well as Andrew Law, the CEO of Caxton Associates.
A team at Pinsent Masons was led by universities partner Gayle Ditchburn and corporate partners Julian Stanier and Sunjay Malhotra.
Commenting on the deal Gayle Ditchburn said: “This is a transformational fund raising which will deliver substantial investment to university spinouts across the North aimed at delivering investment gains for the founding universities and economic growth in the region. Combining our education sector and corporate finance expertise has enabled us to support the founding universities and Northern Gritstone on this strategic project which signals a new era for the financing of higher education spin-outs in the UK.”
Northern Gritstone’s total target fund raising is £500m and is expected to begin deploying capital and making its first investments to start-ups in the coming weeks.
Northern Gritstone Chairman, Lord Jim O’Neill said: “The strong endorsement of Northern Gritstone we’ve seen from investors is testament to the huge scale of the opportunity in northern England’s world class science and innovation hubs and the spin outs they are producing. By investing in Northern Gritstone, asset managers are directly buying into the brightest prospects for Britain’s future economy.
“Today marks a significant milestone as Northern Gritstone continues to build its investor base allowing the company to deliver its philosophy of Profit with Purpose which underpins all we seek to do.”

Latest press releases

Show me all press releases

Pinsent Masons advises PIC on £132m buy-in of Tomkins 2008 pension scheme retirement benefits plan

Pinsent Masons advises PIC on £132m buy-in of Tomkins 2008 pension scheme retirement benefits plan.

Pinsent Masons advises on Umicore’s € 591 million sustainability linked note fundraising

Multinational law firm Pinsent Masons has advised various institutional investors in relation to Umicore’s € 591 million sustainability linked note fundraising.

Pinsent Masons advises Alveo on its sale to Symphony Technology Group

Pinsent Masons has advised the shareholders of Alveo, including funds managed by Sovereign Capital Partners (SCP), on its sale to Symphony Technology Group (STG).

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons advises Statkraft on landmark partnership with Copenhagen Infrastructure Partners 

Multinational law firm Pinsent Masons has advised Statkraft on the sale of a 50% stake in their Irish offshore wind portfolio to Copenhagen Infrastructure Partners’ fund, Copenhagen Infrastructure IV K/S, as part of its plans to develop up to 2.2 gigawatts of offshore wind in Ireland.

Pinsent Masons advises Saint-Gobain Limited on the £740m sale of its UK distribution business

Multinational law firm Pinsent Masons is advising Saint-Gobain Limitedon the sale of all its UK distribution business to the Stark Group. 

Pinsent Masons advises Halma plc on the acquisition of WEETECH Holding GmbH

Multinational law firm Pinsent Masons has advised Halma plc on the acquisition of WEETECH Holding GmbH - the holding company of WEETECH GmbH and its subsidiaries based in Wertheim, Germany.

For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on

+44 (0)20 7418 8199 or 

Location contacts

We are processing your request. \n Thank you for your patience. An error occurred. This could be due to inactivity on the page - please try again.