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There’s real strength in the LDC proposition as a multi-regional and multi-sector investor with the flexibility and consistency brought through being part of Lloyds Banking Group. I’ve long admired its relationship-based approach to investing, and the people-focused culture that’s been developed under Toby and his senior team."

Nicol Fraser
Managing Partner and Head of London, LDC

He added: “London represents a major opportunity for us to expand our investment activity. By growing our team here and collaborating with our sector experts across the UK, we can provide the right level of support for ambitious, growth businesses.”

David Andrews, Partner and current Co-Head of LDC London, will continue to lead the team until September at which point he’ll play an important role in supporting Nicol to drive the ongoing success of the London office. He will also extend his focus on the media sector, where he has significant experience having delivered successful exits from business-to-business events specialist FC Business Intelligence and out of home advertising operator Ocean Outdoor, and more recently leading investments in digital marketing agency Croud and communications agency Headland, among others.

After more than 10 years with LDC, Christian Bruning, Partner and Co-Head of LDC London, will be stepping back from LDC at the end of June to focus on non-executive roles, Christian will remain on the boards of several LDC portfolio companies.

LDC invested £350m in UK-based medium-sized businesses during 2023. The firm, which has a portfolio of more than 90 businesses, also generated £440m of proceeds from nine exits, representing an average money multiple return of 3.2x.

LDC’s support helped the companies it exited in 2023 to generate average revenue growth of 133%, EBITDA growth of 180% and headcount growth of 159%.

Operating from 10 regional locations, LDC also made 18 new hires and 13 promotions during 2023.