Impact investment firm WHEB Asset Management has been acquired by London-based investment manager Foresight Group Holdings, said a news release Jan. 28.
Terms of the deal were not disclosed.
Founded in 2009, WHEB is a provider of impact investment strategies focused on public equities.
Foresight Group seeks investments to help “reduce the world’s carbon emissions, improve social infrastructure for businesses and communities, and support the long-term growth of ambitious companies,” the news release said.
As a result of the acquisition, all three of WHEB’s partners will become employees at Foresight, with the WHEB team continuing to manage WHEB’s investment strategies as a fully integrated part of Foresight Capital Management, a division of Foresight Group.
”We have helped set the standard for impact investing in listed markets in the U.K. and abroad,” said George Latham, managing partner at WHEB, in the release. “As part of FCM and the wider Foresight Group, we will be able to offer clients a broader suite of impact products across different asset classes with the backing of an institution with a strong balance sheet, and established distribution and risk management processes.”
The inclusion of WHEB within FCM will more than double the assets under management of this division, the release said.
According to its latest annual report, Foresight Group had £12.4 billion ($16.6) in assets under management as of Sept. 30, while the FCM division had £700 million in AUM.
