Future Growth Capital expands investment team with double hire
Future Growth Capital, the private markets business set up by Phoenix Group and Schroders last year, has expanded its investment team with two new appointments.
Joanne Bugg joins as head of manager selection alongside Nick Oliver, who has been appointed as senior manager selection analyst.
Bugg was previously investment manager and trustee director of the Wellcome Trust, where she helped manage £39bn of public and private assets.
Read more: Phoenix Group and Schroders launch £20bn private market investment scheme
She will lead the manager selection team at Future Growth Capital, which invests across private equity, private credit, and real assets, and will report to chief investment officer Ped Phrompechrut.
Meanwhile, Oliver joins from Schroders, where he managed pension solutions. He previously worked at Centrica helping to manage their £6bn pension portfolio.
“Private markets offer a broad and evolving opportunity set, with exciting potential to generate alpha for our investors,” said Phrompechrut.
Read more: Future Growth Capital launches two LTAFs
“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”.
Future Growth Capital aims to deploy £10bn to £20bn into private markets over the next decade, including into the UK in line with the new Mansion House Accord announced last month, which Phoenix Group signed.
The business launched with an initial £1bn commitment, growing to £2.5bn over three years.
Read more: Pension firms pledge to invest 10pc in private markets by 2030
