FCM said it brings a strong track record in investment management to the partnership, having generated consistent outperformance for Foresight’s Global Real Infrastructure Fund, which reached a NAV of £500m within two years of launch.
The Luxembourg SICAV vehicle will focus on globally-listed asset-owning infrastructure and renewables businesses.
VAM said the new fund complements its existing vehicles, which range from single strategy to discretionary funds.
FCM director and head of investments Mark Brennan said, “This new investment mandate for FCM represents a landmark endorsement of the team’s investment capability and track record.
“Having built up AUM in the UK to £1.1bn since 2017, FCM’s new partnership with VAM Funds now opens up several large global distribution markets. We are excited at the prospect of working with the VAM Funds team and look forward to growing the VAM Global Infrastructure Fund together.”
Brendan Adams at VAM Funds, added, “We believe that investing in infrastructure represents an excellent way for investors to participate in the economic, social, and environmental future of countries around the world, and will be an important addition to our range of offerings.”
Greater Manchester Pension Fund was the cornerstone investor for Foresight Regional Investment III, while the firm said strong support came from Clwyd and Merseyside Pension Funds.
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