Federated Hermes, Inc. (NYSE:FHI), a global leader in active, responsible investing, announces the successful opening of its Federated Hermes GPE Innovation Fund II (“HINF II”) Commitments have been secured from British Business Investments and BT Pension Scheme (BTPS).
HINF II is focused on driving innovation and technological advancement across Europe and will conform with Article 8 of the EU Sustainable Finance Disclosure Regulation. The Fund’s focus will be on companies and funds with strong growth potential in the information, communication, and technology sector, particularly within non-cyclical sub-themes such as digital enterprise architecture and next generation healthcare.
HINF II introduces two separate funds: one for fund investments and one for direct investments and co-investments, allowing greater flexibility for investors.
The Fund’s launch demonstrates Federated Hermes GPE’s confidence in the potential for further opportunities in the European growth equity market. The strategy builds upon Federated Hermes GPE’s investment in European growth equity since 2014 and is the successor to the 2020 vintage, HINF I.
The Fund is available for distribution across global jurisdictions, including but not limited to the UK, Switzerland and other core European Union markets.
Peter Gale, CIO and Head of Private Equity at Federated Hermes GPE, commented; “Following the success of HINF I, HINF II underlines our priority to maintain a strong focus on investing in European growth opportunities. We prioritise investments in companies and themes that are at the forefront of accelerating technological innovation. By focusing on software-enabled themes and capturing opportunities arising from demographic and societal changes, we stay ahead of industry trends with the aim of driving growth within the portfolio.”
Judith Hartley, CEO, British Business Investments, commented: “At British Business Investments, our mission is to increase the overall supply and diversity of finance for smaller businesses across the UK. Following our earlier support for Federated Hermes in 2019, we are pleased to be making a further commitment to HINF II through our Managed Funds Programme to support innovative smaller businesses in the information, communication and technology sectors.’’
Wyn Francis, Chief Investment Officer, Brightwell, adviser to BTPS said; “BTPS remains committed to supporting technological innovation across the UK and Europe. This growth focused program, complements their thematic Horizon private equity strategy which the Scheme co-founded with Federated Hermes GPE.”
Gordon Ceresino, Vice-Chair of Federated Hermes, Inc. commented; “HINF II’s specialist focus on European Growth Equity, follows the globally diversified thematic products of Horizon III and PEC V, that together have so far successfully raised $1.5bn.”
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Federated Hermes is a global leader in active, responsible investment management, with $704 billion in assets under management, as of June, 30, 2023. We deliver investment solutions that help investors target a broad range of outcomes and provide equity, fixed-income, alternative/private markets, multi-asset, and liquidity management strategies to more than 11,000 institutions and intermediaries worldwide. Our clients include corporations, government entities, insurance companies, foundations and endowments, banks, and broker/dealers. Headquartered in Pittsburgh, Federated Hermes has more than 2,000 employees in London, New York, and offices worldwide. For more information, visit FederatedHermes.com.
British Business Investments Limited is a wholly owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. British Business Investments aims to earn a commercial return by investing – through finance providers – in smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any economic advantage from the government. Find out more at bbinv.co.uk.
The Bank and its subsidiary entities are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.
The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, the British Business Bank plc or its subsidiaries or any other party in respect of Federated Hermes or its products or services.
The BT Pension Scheme (BTPS) is a defined benefit pension scheme for employees, former employees, and their dependants of BT Group plc (BT) and some of its associated companies. It is one of the UK’s largest company pension schemes with c.£40bn of net scheme assets and c.270,000 members.
In 2023, BT Pension Scheme Management Limited, (“BTPSM”) the primary service provider to the BT Pension Scheme (BTPS), launched its trading name “Brightwell” to offer its experience and expertise to other defined benefit schemes.
Brightwell has a long history managing services to BTPS and offers funding and fiduciary services, member administration and advisory. Brightwell’s approach focusses on collectively owning problems, sharing solutions and collaborating for the long-term.Back