Bridges Fund Management has become the latest addition to the panel of private markets managers selected by Fulcrum Asset Management (“Fulcrum”) for its new Long Term Asset Fund (LTAF).

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. This ‘Panel of Illiquid Specialists’ 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 – 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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About Long-Term Asset Funds

Long-term Asset Funds (LTAFs) are designed to enable DC pensions and other long-term investors to invest in a wider range of long-term, less liquid assets, including private markets investments. LTAFs were a recommendation of the Productive Finance Working Group, an initiative set up by the Bank of England, HM Treasury and the Financial Conduct Authority in 2020 with the goal to foster long-term economic growth and support UK job creation by driving more capital into unlisted UK companies, emerging technology and infrastructure.

About Fulcrum Asset Management (LLP)

Fulcrum Asset Management specialises in managing a range of macro-oriented investment products, with the objective of delivering positive returns irrespective of market conditions. Guided by innovative macro research, a disciplined investment process and effective risk management, our aim is to be our clients’ most trusted long-term partner.

Fulcrum’s highly innovative investment approach employs both discretionary and systematic inputs that are supported by extensive in-house research. Being unconstrained by benchmarks, Fulcrum provides investment solutions with the ability to align products with a client’s specific risk appetite. All of our strategies offer transparency, liquidity and competitive fee structures.

Founded in 2004, the firm manages £5.8bn / USD$7.6* bn on behalf of a global client base including institutions and wealth managers. Fulcrum is a signatory to the UNPRI along with a number of significant organisations across the globe that embrace sustainability as part of their core objective.

For more information about Fulcrum Asset Management, visit: https://fulcrumasset.com/