Foresight Group has acquired impact investment specialist WHEB Asset Management, in a deal which will add almost £800m to the group’s AUM.
Foresight, which offers listed and private real asset products to both institutional and retail investors, said the acquisition will “reinforce FCM’s [Foresight Capital Management’s] position as a leader in impact investing in public markets”, as well as represent the firm’s entry to the Australian market via WHEB’s joint venture with Pengana Capital Group.
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All three of WHEB’s partners, alongside “key employees” such as fund managers and the investment team, will become part of Foresight and will remain based in London. They will continue to manage WHEB’s investment strategies as part of FCM, which will see its assets under management more than double following the acquisition.
George Latham, managing partner at WHEB, said: “Over the past decade WHEB has built a highly successful, award-winning franchise around a core global equity impact strategy. We have helped set the standard for impact investing in listed markets in the UK and abroad.
“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. We are very excited to have the support of Foresight in this next stage of WHEB’s development.”
Nick Scullion (pictured), partner and head of Foresight Capital Management, added the team is “delighted to be joining forces with the team at WHEB Asset Management”.
“WHEB has built an outstanding business with a strong mission and powerful brand that stands for authentic impact investing. Bringing WHEB’s products, people and culture onto the FCM platform positions our business as a leader in impact investing in public markets in the UK and in other key geographies.”
This article first appeared on Portfolio Adviser
