Foresight Group acquires the trade and assets of WHEB Asset Management.

Headquartered in London, WHEB is a leader in impact investing, managing a single global mid-cap equity strategy that invests in listed companies whose products and services provide solutions to key sustainability challenges. WHEB’s key employees, including the management team, will join Foresight and be integrated into the Foresight Capital Management (“FCM”) division. The fund manager and investment team will retain their existing responsibilities and continue to be based in London.

Founded in 1984, Foresight is a leading investment manager in real assets and capital for growth, operating across the UK, Europe, and Australia.

With decades of experience, Foresight offers investors access to attractive investment opportunities at the forefront of change. Foresight actively builds and grows investment solutions to support the energy transition, decarbonise industry, enhance nature recovery and realise the economic potential of ambitious companies.

The acquisition will reinforce FCM’s position as a leader in impact investing in public markets, represents FCM’s entry to the Australian market via WHEB’s joint venture with Pengana Capital Group, unlocks distribution synergies, and supports product and customer diversification of the division.

The acquisition is anticipated to be immediately accretive to core EBITDA pre SBP. The acquisition is structured with 50% upfront consideration, 50% deferred consideration and a management performance entitlement payable in cash over a three-year period, subject to certain performance targets. The acquisition is structured to align incentives and will be funded from existing cash resources, with completion expected in the first half of 2025.

Nick Scullion, partner and head of Foresight Capital Management said: “WHEB has built an outstanding business with a strong mission and powerful brand that stands for authentic impact investing.

“Bringing WHEB’s products, people and culture onto the FCM platform positions our business as a leader in impact investing in public markets in the UK and in other key geographies.”

Bernard Fairman, Executive Chairman of Foresight Group Holdings Limited, commented: “We continue to pursue opportunities to support business growth, and today’s announcement is a prime example of our proactive management.

The FCM transactions further diversify our product offerings, bring significant investment experience and add scale to the division.”

 

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