Paul Forshaw was named CEO of Future Growth Capital, the new private markets investment manager launched by Schroders and insurer Phoenix Group.
London-based FGC aims to deploy up to £20 billion ($26.6 billion) in assets over the next decade and will promote the objectives of the U.K.’s Mansion House Compact. Phoenix’s initial commitment is £1 billion, but FGC aims to deploy up to £2.5 billion over three years from Phoenix Group.
Forshaw is responsible for leading the firm and business performance. He was head of strategic partnerships at Schroders.
Chaipetch “Ped” Phrompechrut was named as CIO for the business, responsible for overall portfolio management and investment performance. He was head of portfolio management at Schroders Capital’s private asset solutions business.
"Schroders Capital has a broad team of private markets solutions specialists who will continue to provide relevant investment solutions to other U.K. clients," a spokesperson said. Forshaw will work with relevant internal partners to transition his current responsibilities, while Phrompechrut will work closely with the Schroders Capital team to ensure an orderly transition of his responsibilities.
FGC also named James Harvey as chief financial and chief operations officer, and Mike Chappell was named as head of origination. Harvey was CFO and head of finance at Neuberger Berman, and Chappell was head of private markets at Phoenix Group.
The senior leadership team is supported by a board of directors. The first two non-executive director appointments were Georg Wunderlin, global head of private assets at Schroders Capital, and Michael Eakins, group CIO at Phoenix Group.
FGC will design and manage U.K. and global multiprivate asset solutions for U.K. insurance and retirement clients. The firm will become a standalone business, subject to approvals, and will be an extension of Schroders Capital’s private markets capabilities, a spokesperson said when the venture was announced in July.
