Future Growth Capital (FGC), the independent private markets solutions business formed by Phoenix Group and Schroders, has deepened its investment team with the appointment of Joanne Bugg as Head of Manager Selection, and Nick Oliver as Senior Manager Selection Analyst.
Joanne joins from the Wellcome Trust where she helped manage £39bn of public and private assets in senior roles, most recently as Investment Manager and Trustee Director of the Wellcome Trust pension plan. Joanne is Chair of the Investment Advisory Committee at Hertford College, Oxford University, and a member of the City Guild of Investment Managers.
Joanne will lead the manager selection team at Future Growth Capital, which invests across private equity, private credit, and real assets, reporting to Ped Phrompechrut, Chief Investment Officer. In this newly created role, she will oversee evaluation and due diligence processes, and work closely with the portfolio management team to execute investment strategy.
Nick Oliver joins from Schroders fiduciary management team where he helped manage pension solutions. Nick previously worked at Centrica helping to manage their £6bn pension portfolio.
Both Joanne and Nick’s appointments are effective immediately.
Ped Phrompechrut, Chief Investment Officer, Future Growth Capital said: “We’re excited to welcome Joanne and Nick to the team. Private markets offer a broad and evolving opportunity set, with exciting potential to generate alpha for our investors. Joanne and Nick bring investment insight and governance experience to add to the team, which is already one of the largest focused on UK private market solutions for pension funds”.
Joanne Bugg, Head of Manager Selection, Future Growth Capital, said: “Future Growth Capital is unique in the market, as an independent private asset manager focused on the UK pensions industry, supported by the resources and reputations of two of the UK’s leading financial institutions. I am looking forward to working with pension funds to help unlock the long term returns of private markets with appropriate risk”.
FGC is an independent private markets solutions business established by Phoenix Group, a leading long-term savings and retirement business and Schroders, the UK’s largest listed asset manager with a $99.3 billion (£79.3 billion; €95.9 billion) private markets capability*.
FGC aims to deploy £10-20bn over the next decade into private markets, investing globally and in the UK, in support of the Government’s Mansion House objectives, to boost retirement savings for UK pension savers through higher investment returns, and to unlock long term finance to fuel UK growth.
Phoenix Group intends to invest 10% of its relevant savings products on behalf of its policyholders via investment products managed or advised by FGC, in line with its Mansion House Accord commitment.
In April 2025, FGC announced a dedicated UK multi private markets strategy, the first of its kind, and a complementary global multi private markets strategy. The strategies offer actively-managed, diversified private markets exposure to private equity and venture capital, real assets and private debt in the UK, and globally, are scaled with initial investment capital from Phoenix Group policyholders, and are open to third party pension clients.
* Assets under management as at 31 December 2024 (including non-fee earning dry powder and in-house cross holdings)
