LDC, the private equity arm of Lloyds Banking Group, has opened a new office in Newcastle.

The firm, which announced last year that it was committed to invest £1.2bn in UK mid-market businesses over the next three years, has spent over £100m in portfolio companies across the North East of England. In 2019, LDC invested £365m to back 18 companies across the UK and exited 11 others, according to its website.