The Schroders Capital Wealth Solutions LTAF has been structured as an open-ended investment company (OEIC) to be marketed to the UK wealth sector. It will function as an umbrella structure for other LTAFs, which the wealth market can invest in.
The first fund to be launched under this structure will be the Schroders Capital Global Private Equity LTAF, which will act as a feeder fund into the existing Schroders Capital Semi-Liquid Global Private Equity fund, originally launched in September 2019 and currently managing $1.8 billion in assets.
The feeder LTAF will be managed by Benjamin Alt, head of global private equity portfolios, and will focus on small- to mid-market buyout and growth investments worldwide, including SME buyouts in the US and Europe, as well as Asian growth companies, with a particular emphasis on the technology and healthcare sectors.
This marks Schroders’ fourth LTAF to enter the market, following the recent approval from the Financial Conduct Authority to launch an LTAF focused on UK venture capital earlier this month.
In an interview with Investment Week, James Lowe, director of private markets at Schroders, explained that the Wealth Solutions LTAF was designed in a structure “suitable for private wealth clients.”
By contrast, the previous three LTAFs were created under the authorised contractual scheme (ACS) framework, making them more appropriate for defined contribution (DC) pension schemes, charities, and institutional investors.
