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Adviser Profile

As of Date 06/28/2024
Adviser Type - Large advisory firm
- Outside the United States
- An investment adviser (or subadviser) to an investment company
Number of Employees 399 54.05%
of those in investment advisory functions 150 64.84%
Registration SEC, Approved, 5/6/2021
AUM* 9,003,417,044 9.55%
of that, discretionary 6,669,270,587 16.54%
Private Fund GAV* 683,367,237 28.79%
Avg Account Size 230,856,847 15.17%
SMA’s Yes
Private Funds 1
Contact Info 44 xxxxxxx
Websites

Client Types

- Investment companies
- Pooled investment vehicles
- Pension and profit sharing plans
- Corporations or other businesses not listed above

Advisory Activities

- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
7B 6B 5B 4B 3B 2B 960M
2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypeOther Private Fund Count1 GAV$683,367,237

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Brochure Summary

Overview

A. Describe your advisory firm, including how long you have been in business. Identify your principal owner(s). Foresight, is an infrastructure and private equity investment management firm based in London, United Kingdom. Established in 1984, Foresight’s two main operating strategies are Infrastructure asset management, which is focused on renewable energy and infrastructure sectors, and Private Equity, which focuses on private equity, venture and growth capital investment principally in the UK to small and medium sized enterprises in the consumer & leisure, industrial & manufacturing, TMT, healthcare and business services sectors. Foresight and its affiliates provide discretionary investment advisory services to their clients, which consist of private investment funds and institutional investors. Foresight serves as investment adviser for, and provides discretionary investment advisory services to, (i) pooled investment vehicles operating as private investment funds, including open-ended funds, closed-ended funds, and funds in which affiliates or employees of Foresight invest alongside such other private investment funds and (ii) investment funds registered or authorized in foreign jurisdictions for retail investors on a wholesale basis2 (collectively, the “Funds”). In addition, Foresight provides non-discretionary investment advisory services to individually managed accounts (the “Managed Accounts”) for institutional investors. Foresight generally serves as investment manager for Managed Accounts or arrangements formed to offer investment solutions for institutional investors. The Funds and the third-party investors in or owners of the Managed Accounts shall be referred to herein as the “Clients”. For the avoidance of doubt, in the United States, Foresight only provides advisory services to “qualifying private funds” (as that term is defined in Section 203(m) of the Investment Advisers Act of 1940 (the “Advisers Act”) and managed accounts for qualified clients (as that term is defined in Rule 205(a)(1) of the Advisers Act). Foresight is 100% owned by Foresight Holdco 2 Limited, an English limited company, which is 100% owned by Foresight Group CI Limited, a Guernsey-based limited company. Foresight Group CI Limited is 100% owned by Foresight Group Holdings Limited, a Guernsey-based limited company. Foresight Group Holdings Limited is listed on the London Stock Exchange and its largest shareholder is Beau Port Investments Limited, a Guernsey-based limited company holding 27.8%% of its shares, of which Bernard Fairman is the beneficial owner. No other shareholder holds more than 10% holdings in Foresight Group Holdings Limited. For more information on the ownership information of Foresight, please see Foresight’s Form ADV Part 1, Schedule A and B. B. Describe the types of advisory services you offer. If you hold yourself out as specializing in a particular type of advisory service, such as financial planning, quantitative analysis, or market timing, explain the nature of that service in greater detail. If you provide investment advice only with respect to limited types of 2 See Item 7, below. investments, explain the type of investment advice you offer, and disclose that your advice is limited to those types of investments. Foresight operates two lines of business – private markets and public markets. Foresight’s private markets business provides discretionary and non-discretionary investment advisory services with respect to investments in private companies (“private equity”) and infrastructure investments to Clients. Foresight’s investment advisory services to Clients consists of identifying and evaluating investment opportunities, recommending and negotiating the terms of purchase and sale of private equity and infrastructure investments. Investments are made globally. Foresight’s public markets business consists of providing discretionary
investment advice to Clients related to investments in securities of public traded infrastructure and real assets companies. C. Explain whether (and, if so, how) you tailor your advisory services to the individual needs of clients. Explain whether clients may impose restrictions on investing in certain securities or types of securities. Investment objectives for all Clients are described in the private placement memorandum, limited partnership agreement, investment management/ advisory agreement, operating agreement, subscription agreement, side letter agreements and other governing documents (collectively, “Governing Documents”). Foresight allows Managed Account Clients to customize their investments, upon their request, by imposing reasonable investment restrictions on certain industries or sectors. In these cases, the Client will provide Foresight with written instructions. These requests are typically received at account inception and memorialized in the negotiated investment advisory agreement. Relationships with Managed Account Clients are on an advisory basis only whereby all investment decisions are made by the Client itself. Foresight does not tailor its advisory services to the individual needs of investors in Funds. Foresight’s investment advice and authority for each Fund is tailored to the investment objectives of that Fund. Investors in Funds participate in the overall investment program for the applicable partnership and cannot be excused from a particular investment except where it is permitted by and pursuant to the terms of the Governing Documents. Fund investors cannot impose restrictions on the investments made by Foresight on behalf of a Fund. In very limited circumstances, Foresight will permit Fund investors the ability to “opt out” of certain Fund investments. Foresight may enter into side letters or similar agreements with certain investors for example investors who make substantial commitments of capital or who were early-stage investors in Funds, or for other reasons in the sole discretion of Foresight. Side letters may be entered into if the governing documents permit and have the effect of establishing rights under, or altering or supplementing, a Fund’s partnership agreement. Side letters are negotiated at the time of the relevant investor’s capital commitment, and once invested in a Fund, investors generally cannot impose additional investment guidelines or restrictions on such Fund. Such rights may include co-investment preferences, certain fee arrangements, notification provisions, reporting requirements and “most favored nations” provisions, among others. To ensure the fair treatment of investors within each Fund, the governing documents of the Fund generally have a most favoured nation clause such that investors within the same fund should be entitled to at least as favourable terms as other investors. D. If you participate in wrap fee programs by providing portfolio management services, (1) describe the differences, if any, between how you manage wrap fee accounts and how youmanage other accounts, and (2) explain that you receive a portion of the wrap fee for your services. Foresight does not participate in wrap fee programs. E. If you manage client assets, disclose the amount of client assets you manage on a discretionary basis and the amount of client assets you manage on a non- discretionary basis.Disclose the date “as of” which you calculated the amounts. As of September 30 2022, the Firm managed approximately US$ 8,168,577,651 in regulatory assets under management, where US$ 5,672,837,055.78 are managed on a discretionary basis and US$ 2,495,740,595.26 on a non-discretionary basis. The Cromwell Foresight Global Sustainable Infrastructure Fund, which was launched on 31 January 2023, had seed money of US$50,000,000. Added to the September 30 2022 figures, the RAUM of the Firm is US$8,218,577,651.