(Alliance News) - Foresight Group Holdings Ltd on Wednesday said it has made further inroads into the US sub-advisory market, after its capital management division was appointed to the Cromwell Foresight Sustainable Infrastructure Fund, launched yesterday.

Foresight Group is a London-based infrastructure and private equity investment manager.

The new US fund will replicate Foresight Capital Management's existing global real infrastructure strategy. To date, the UK and Luxembourg-domiciled funds focusing on this strategy have raised gross inflows of GBP1.1 billion since launch in June 2019.

The new US mutual fund represents the newly-formed partnership between Foresight and Baltimore-based Cromwell Funds. It represents an opportunity for Foresight to enter the US asset management market.

The firm argued that FCM's capabilities and experience, alongside the "strong and well-established" distribution capabilities of Cromwell, would provide US investors with an attractive entry into a portfolio focussed on sustainable energy transition infrastructure.

"I am delighted to announce the launch of Foresight's new US Mutual Fund in partnership with Cromwell which further expands our geographic footprint and strengthens our already resilient and diversified business model," said Executive Chair Bernard Fairman.

"The US market offers a significant opportunity for Foresight and over the next 12 months we will build both the scale of the Fund and the US profile of the Foresight brand. We believe that the growth opportunities in the US offer the potential in the long term to exceed FCM's current UK and European business."

Foresight shares were trading 1.1% higher at 466.00 pence each in London on Wednesday morning.

By Holly Beveridge; Alliance News reporter

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