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A private equity firm has launched in Birmingham aimed at supporting companies across the Midlands with new finance.

Experienced industry professionals Rob Freer and David Newton are behind NewHall Capital which will focus on investing in the region's SMEs.

Mr Freer has more than 30 years of corporate finance and private equity experience, having previously held senior positions at Lloyds, EY and Deloitte among others.

He most recently set up and managed the Midlands office of NorthEdge Capital where he was responsible for originating and executing a number of successful investments.

Mr Newton previously worked as a corporate financier for EY, investment banks Williams de Broe, Seymour Pierce, XCAP Securities and corporate finance boutique Cattaneo.

They said they hoped the new outfit would address the "significant regional imbalances" in the supply of equity finance to small and medium companies which they feel has historically favoured London and the North.

The company will make investments with an enterprise value of £10 million with a focus on management buyouts, equity release and development capital.