Future Growth Capital has launched two global and UK-focused long term asset funds (LTAFs).
The firm is a newly-launched private markets business established by Schroders and Phoenix Group.
The FGC Global LTAF will invest in private markets assets in the US, Europe and Asia, while the UK LTAF will aim to invest in a blend of privately-owned assets, including those involved in the UK’s energy transition.
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The fund has made its first investment aligned with the government’s Long-Term Investment for Technology and Science (LIFTS) initiative, which seeks to grow the UK businesses of the future.
British Business Bank has invested £250m into the LTAF under the initiative.
Ped Phrompechrut, CIO at Future Growth Capital, said: ”Often overlooked is that UK private markets are broader and deeper than many recognise and offer a rich seam of investment return potential.
“The UK is a hub of innovation, the third largest venture capital market in the world, and the leading supplier of unicorn businesses in Europe. There are great investment opportunities for investors, and we aim to capture these for UK pension savers, alongside providing access to a global strategy.’’