- Transition-focused sustainable and impact private equity investor
1 October 2024
Fulcrum Asset Management (“Fulcrum”) is pleased to announce the latest addition to its ‘Panel of Illiquid Specialists’ for its new Long-Term Asset Fund (LTAF). Bridges Fund Management (“Bridges”) has been selected as a global leader in sustainable and impact investing.
The Fulcrum-Bridges relationship represents the latest in a series, each designed specifically for UK DC pension plans within Fulcrum’s LTAF. Fulcrum has invested significantly to bring together a panel of specialist private market managers from around the world for UK DC pensions. The panel spans private equity (including venture capital), value-add real estate, value-add infrastructure, natural resources and private credit.
Bridges has been investing in private equity since 2002 and focuses on the transition to a more sustainable and inclusive economy, backing ambitious growth companies predominantly in the UK. Recent investments include:
- AgilityEco: An innovative home decarbonisation delivery platform, providing whole-of-house energy efficiency solutions to some of the most vulnerable low-income households in the UK. Last year AgilityEco worked with over 36,000 households, saving them over £2,600 on their lifetime energy bills and mitigating over 113,000 tonnes of carbon emissions.
- World of Books: A ‘circular economy’ technology business that has pioneered the reuse and recycling of unwanted books. It has grown to become one of the biggest sellers of used books globally, now selling a book somewhere in the world every two seconds.
Matt Roberts, Head of Fulcrum Alternative Solutions, says:
“This partnership represents a significant milestone for Fulcrum’s private markets offering and the industry as a whole. Until now, UK DC pension plans have faced significant barriers in allocating to high-calibre private markets specialists globally. Fulcrum’s LTAF solves this problem by identifying these specialists and making them accessible for DC pensions. We believe managers like Bridges – one of the first growth equity managers to be appointed for UK DC – offer a compelling return opportunity while also contributing to the broader productive finance agenda.”
Michele Giddens, Chief Executive at Bridges, says:
“For investors, tackling the huge social and environmental challenges we face is not just a moral imperative: it’s also a unique long-term value creation opportunity. We strongly believe that DC pensions should be able to access these opportunities, and use their capital productively to help build a more sustainable and inclusive economy. We salute Fulcrum’s pioneering work in creating a platform that provides this access, and we look forward to working with Matt and the team for many years to come.”
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