Phoenix and Schroders announce FGC leadership team

Written by Michael Griffiths

04/10/2024

Future Growth Capital (FGC), the private markets investment manager launched by Schroders and Phoenix Group in July, has announced its senior leadership team.

Previous head of strategic partnerships at Schroders, 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.

Phoenix’s James Harvey will become chief financial and chief operations officer, responsible for financial and capital management as well as operational control.

FGC will support the objectives of the UK’s Mansion House Compact, unlocking investment opportunities in private markets for pension savers to benefit from the investment opportunities in unlisted assets.

Chaipetch Phrompechrut has also moved from Schroders Capital to become chief investment officer, while Mike Chappell from Phoenix will become the venture’s head of origination.

The senior leadership team will be supported by an experienced board of directors which includes global head of private assets at Schroders Capital, Georg Wunderlin, and group chief investment officer at Phoenix, Michael Eakins.

The new group’s chief executive, Forshaw, commented: “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.’’

Phoenix announced that it would 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.

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