Future Growth Capital (FGC), the new private markets investment manager announced by Schroders plc and Phoenix Group in July, is pleased to name its senior leadership team.
FGC will support the objectives of the UK’s Mansion House Compact, unlocking investment opportunities in private markets for millions of pension savers to benefit from the diversification and investment return opportunities that unlisted assets can offer.
Appointments from Schroders and Phoenix will form the senior leadership team as follows:
- Paul Forshaw has been appointed Chief Executive and will be responsible for overall leadership and business performance, including taking a lead on business strategy and business development. Paul was previously Head of Strategic Partnerships at Schroders.
- Phoenix’s James Harvey will become Chief Financial and Chief Operations Officer, responsible for financial and capital management as well as operational control.
- Chaipetch (Ped) Phrompechrut moves from Schroders Capital to become Chief Investment Officer. He will be responsible for overall portfolio management and investment performance and will also be the Lead Portfolio Manager for the UK and Global Long-Term Asset Funds (LTAFs).
- Mike Chappell from Phoenix will become the venture’s Head of Origination, responsible for establishing the firm’s debt origination team and processes.
The senior leadership team will be supported by an experienced Board of Directors. The first two Board appointments are as follows:
- Georg Wunderlin will become Non-Executive Director. Georg is Global Head of Private Assets, Schroders Capital.
- Michael Eakins will become a Non-Executive Director. Michael is Group Chief Investment Officer at Phoenix Group.
Paul Forshaw, Chief Executive of Future Growth Capital, said: “I am excited and privileged to have been appointed Chief Executive of Future Growth Capital at a pivotal moment in the development of the UK’s private markets. We believe private markets offer a very significant investment opportunity that the UK’s long-term savers can now take advantage of to support their retirement goals.
“Our senior leadership team brings deep expertise and broad experience from both parent companies and creates a compelling new private markets investment platform for clients. We aim to deploy £10-20bn over the next decade into UK and global private markets, serving UK pensions clients, and positioning FGC at the heart of the UK private markets investment ecosystem.’’
FGC will deploy an initial £1bn as part of a planned £10-20bn deployment over the next 10 years into UK and global private markets. Phoenix Group plans to invest 5% of its relevant savings products on behalf of its policyholders, in line with its Mansion House Compact commitment. Ongoing fundraising will be led by both Schroders and Phoenix Group.
FGC will design and manage UK and Global multi-private asset solutions for UK insurance and pension clients providing exposure to a broader range of innovative companies and investment opportunities for millions of UK pension savers by leveraging Schroders’ LTAF technology.
As a major investor in the UK’s private markets, FGC will seek to promote the development of the UK’s private markets ecosystem, and further enhance the UK as an attractive private market investment destination for international investors.
A photo of Paul Forshaw can be downloaded here.
