Cleantech investor Foresight Group hires Sonia Powar to its MBO team

10 Nov 2008

Sonia Powar

Cleantech-focused alternative asset manager Foresight Group has strengthened its MBO team with the appointment of Sonia Powar as an investment director.

Powar joins Foresight following eight years at 3i, where she was an investment manager in the London Buyout Team. Prior to that, she worked for three years at PricewaterhouseCoopers as a supervisor in the Auditing and Business Advisory Division.

Foresight’s MBO team specialises in providing equity finance for MBOs, MBIs and development capital for UK companies with an enterprise value of up to £20m.

Donald Maclennan, who heads Foresight’s MBO team, said, ‘This is an exciting time in the smaller buy-out space, with a good flow of investment opportunities, even in the current climate. Having seen our deal flow increase by a factor of almost four times in the last 12 months, this strengthening of our team comes ahead of what we believe will be an active 2009. With eight years at 3i and a strong focus on the MBO sector, Sonia’s previous experience is highly complementary to our existing skills and she will be an invaluable member of our growing team.’

Powar added, ‘Foresight has a growing MBO team with a reputation for doing innovative deals across a range of industry sectors and I look forward to bringing the experience I gained at 3i to help in the sourcing and execution of investment opportunities and building up Foresight’s existing MBO portfolio.’

Foresight Group currently manages around £200 million across a number of funds. Recent investments from the firm include plastics recycling business Closed Loop London and biomass energy company O-Gen.

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