FocusPoint Private Capital Group (FPCG) established its FocusPoint Europe (FPE) affiliate to help European institutional investors access U.S. private market managers, including equity, technology credit and income-related strategies.
The establishment of FPE follows a finding in FPCG’s inaugural Alternatives Asset Allocation Survey that 52% of the limited partners surveyed had an overwhelming interest in allocating or increasing exposure to technology funds in the coming 12 months. The survey, conducted earlier this year, asked investors including insurance companies, public pensions, and asset managers with a combined $4.9 trillion in total AUM how COVID-19 was influencing their investment strategies in private capital markets.
FPE’s first international office is located in London. Jeremy Ward has been appointed a director at the affiliate, tasked with marketing and raising capital from family offices in the UK and mainland Europe. Ward previously served at GVO and Crux Asset Management, where he was primarily responsible for marketing to family offices.
“The launch of the London office underscores a notable shift in how we feel limited partners (LP) globally
are looking at their portfolios. If you aren’t looking at each sector with a technology lens you most likely
aren’t going to find high growth,” said David Conrod, CEO of FPCG and its parent company, private investment firm LANDC Investment, LLC. Referencing the Alternatives Asset Allocation Survey findings, Conrod added, “Given an overall under-allocation in prior years and with technology disrupting every sector, LPs realize they can no longer avoid allocating to technology.”