Leading Liverpool business figure Mark Fuller has resigned as MD of Alliance Fund Managers.
Alliance Fund Managers (AFM) is the successor to the Merseyside Special Investment Fund (MSIF)and manages all investment businesses of the MSIF, which ceased investing on 31st December 2008.
AFM did negotiated an extension to some existing facilities totalling £4.6m, allowing the MSIF Small Firms and Mezzanine Funds to continue to provide loans up to March 2010.
Mr Fuller's decision to part company with AFM came as the Northwest Regional Development Agency re-issued tenders for its Venture Capital and Loan Fund.
AFM had been involved in bidding for the investment pot last year but delays and protracted negotiations with the government over its structure left many fund managers frustrated.
In November, AFM announced it planned to make nine staff redundant and admitted it had “become impossible to keep investment teams at current levels”.
It has landed the task of handling the loan element of the NWDA’s transitional scheme but missed out on the equity pot to YFM, which has its HQ in Leeds and MTI, the technology specialist venture capitalists.
It is understood that Fuller will remain with AFM, in an advisory capacity, to help manage its portfolio of investments but he is looking for new opportunities within the venture capital market.
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