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Phoenix Group and Schroders form Future Growth Capital to deploy up to £20bn of UK DC pension assets into private markets, supporting Mansion House Compact amid government’s pensions review

Published on: 02 August 2024

Published by a Law360 reporter
Legal News
Article summary

Future Growth Capital

On 31 July 2024, the long‑term savings and retirement business, together with the global investment manager, announced their joint venture, Future Growth Capital, which intends to direct capital into expanding firms that are not listed on the stock market. They said the initiative will be the first private market investment manager to be set up in the UK to advance the objectives of the Mansion House Compact—an agreement tabled by the previous government with the retirement savings sector that saw pensions firms pledge to allocate a minimum of 5% of defined contribution funds to unlisted equities by 2030. Phoenix and Schroders added that a core priority is investing on behalf of pension savers to build the UK businesses ‘of the future’. It will also invest across global private markets...

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