Management changes at Schroders plc and Schroders Capital have occurred, including the appointment of a leadership team to a new private markets asset manager that will harness the “Mansion House Compact” to invest in unlisted equities.
Schroders plc and pensions provider Phoenix Group announced the leadership team for their asset management joint venture, Future Growth Capital.
Paul Forshaw becomes chief executive and was previously head of strategic partnerships at Schroders, while Phoenix’s James Harvey will become chief financial and chief operations officer.
Chaipetch (Ped) Phrompechrut moves from Schroders Capital to become chief investment officer and be lead portfolio manager for the UK and Global Long-Term Asset Funds.
Mike Chappell from Phoenix will become the venture’s head of origination, responsible for establishing the firm’s debt origination team and processes.
The Board of Directors includes two non-executive directors (NEDs): Georg Wunderlin, global head of private assets at Schroders Capital; and Michael Eakins, group chief investment officer at Phoenix Group.
Forshaw, said the firm aims to deploy £10-20 billion over the next decade into UK and global private markets, serving UK pensions clients.
Initial investments from Phoenix are in line with the UK’s Mansion House Compact, an industry-led commitment made at Mansion House (pictured) in July 2023, whereby pension scheme signatories – including Phoenix – committed to investing in unlisted equities.
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Meanwhile, at Schroders Capital – which invests US$97.3 billion of assets in private markets – Nick Montgomery is promoted to the role of global head of real estate.
Montgomery is currently head of UK real estate and the promotion is subject to regulatory approval.
He will take over from Sophie Van Oosterom following an orderly transition, the firm said.
Montgomery has been at Schroders for 12 years and has overseen strong growth of the UK business including significant new mandate wins and the launch of Schroders Capital’s Real Estate Impact Fund, the firm said.
Alongside Montgomery’s appointment, Roger Hennig becomes head of continental Europe, based in Zurich, after previously leading Schroders Capital’s real estate team in Switzerland.
Kieran Farrelly becomes global chief investment officer for real estate and James Macnamara will assume global responsibility for value-add and alternative investments, building on his current focus as head of strategy, hotels and operating assets.
Schroders Capital’s real estate business currently mangers over $27.9 billion of assets in a range of strategies across 16 markets globally.
Wunderlin, the global head of private assets at the firm also serving as NED at Future Growth Capital , said: “With a strong team in place, and with each promotion thoroughly deserved, we will continue to explore investment opportunities, with a differentiated proposition that consistently deliver superior returns for clients.”
He added: “I extend my deep gratitude to Sophie for her commitment to the business. It has been a pleasure to work with her and I wish her every success as she embarks on a new role on the client-side.”
