LONDON: Foresight Group Holdings Limited, a prominent investment manager, has announced several significant developments that will expand its assets under management by over £800 million.
Acquisition of WHEB Asset Management
Foresight has acquired the trade and assets of WHEB Asset Management LLP, a leader in impact investing based in London. WHEB’s team, including its management, will join Foresight’s Capital Management division, maintaining their current responsibilities and location. This acquisition enhances Foresight’s position in public market impact investing and marks its entry into the Australian market through WHEB’s joint venture with Pengana Capital Group. The deal is expected to boost core EBITDA immediately and is structured with 50% upfront consideration, 50% deferred consideration, and a management performance entitlement payable over three years. The acquisition will be funded from existing cash resources and is expected to be completed in the first half of 2025.
Appointment as Sub-Investment Manager and Sub-Distributor
On Jan. 27, 2025, Foresight was appointed sub-investment manager and sub-distributor for the Liontrust Diversified Real Assets Fund, effective Feb. 3, 2025. The fund manager will maintain his existing responsibilities while joining Foresight’s Capital Management division, bringing 18 years of investment management experience. This appointment is anticipated to enhance the fund through Foresight’s distribution and investment capabilities.
Fundraising for Natural Capital Ltd
Foresight Natural Capital Ltd has secured additional capital from two UK local government pension schemes, doubling their existing positions. The new funds will expand the investment pipeline and offer a robust platform for the forthcoming European natural capital strategy.
“We continue to pursue opportunities to support business growth, and today’s announcement is a prime example of our proactive management,” said Bernard Fairman, Executive Chairman of Foresight Group Holdings Limited. “The FCM transactions diversify our product offerings, bring significant investment experience, and add scale to the division. We are pleased to see continued demand from institutional investors as we leverage our sector expertise for our European natural capital strategy. Alongside recent retail fundraising and positive foreign exchange movements, this represents a strong start to 2025. We reiterate our guidance to double core profitability over the five years to FY29.”
Foresight Group to acquire Australia-based Infrastructure Capital for A$100mn