Future Growth Capital, the independent private markets solutions business formed by Phoenix Group and Schroders, has appointed Joanne Bugg to the newly created role of head of manager selection and Nick Oliver as senior manager selection analyst.
Bugg will lead the manager selection team, which invests across private equity, private credit, and real assets and will report to chief investment officer Ped Phrompechrut. She will oversee evaluation and due diligence processes and work closely with the portfolio management team to execute investment strategy.
She joins from the Wellcome Trust, where she helped manage £39bn of public and private assets, most recently as investment manager and trustee director of the Wellcome Trust pension plan.
Additionally, Oliver joins from Schroders, where he helped manage pension solutions. He previously worked at Centrica, helping to manage its £6bn pension portfolio.
FGC says it is joining broader industry efforts in private market investing and supporting the Government’s Mansion House goals to boost pension returns and fuel long-term UK growth with plans to invest £10-20bn over the next decade across UK and global markets.
In alignment with the Mansion House Accord commitment, Phoenix Group intends to invest 10 per cent of its relevant savings products on behalf of its policyholders via investment products managed or advised by FGC.
Phrompechrut says: “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”.
Bugg says: “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”.
