Announcement
Gresham House PLC : Gresham House rebrands forestry division
RNS Number : 7636P
Gresham House PLC
22 November 2016
22 November 2016
Gresham House plc ("Gresham House" or the "Company")
(AIM: GHE)
GRESHAM HOUSE REBRANDS FORESTRY DIVISION AND COMPLETION OF FIRST ACQUISITON BY GRESHAM HOUSE FORESTRY FUND
Gresham House plc, the specialist asset manager focused on alternative asset management strategies ("the Company") is pleased to announce the re-branding of its dedicated forestry asset management business, Aitchesse Ltd, as Gresham House Forestry ("GHF").
GHF manages £238 million of assets on behalf of endowments, institutions, family offices and private investors and was acquired by the Company in November 2015. The re-branding follows the successful £15 million first close of the Gresham House Forestry Fund LP ("The Fund"), which is targeting a total fundraising of £50 million at final close in 2017.
In addition, the Company is pleased to confirm that the Fund has now completed its first investment through the purchase of five forests in the west of Scotland for £12 million referred to in the recent announcement on 31 October 2016. The Fund is targeting annual returns of 10% including a yield of between 2% and 4%.
Gresham House now has three divisions formed within its specialist asset management platform managing c.£375 million of third party assets:
‒ Strategic Public Equity managing a quoted investment company Gresham House Strategic plc ("GHS") and a Limited Partnership ("SPE Fund LP");
‒ Private Equity managing listed investment company LMS Capital plc; and
‒ Real Assets, formed through the establishment of its Forestry business managing third party assets through segregated mandates, managed accounts and the Gresham House Forestry Fund LP.
Tony Dalwood, Chief Executive of Gresham House plc said
"We are nearly two years into the development of Gresham House as a 'go-to' provider of alternative asset management strategies. We enter 2017 with a clear plan to continue to grow organically and with a number of corporate opportunities being appraised which would enable us to continue to scale our specialist asset management platform and accelerate the path to profitability, working closely alongside strategic partners and shareholders."
Enquiries:
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Gresham House plc |
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Anthony Dalwood |
+44 (0) 20 3837 6270 |
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Montfort Communications, PR Adviser |
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Gay Collins |
+44 (0) 203 770 7906 |
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Rory King |
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Liberum |
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Neil Elliot/Jill Li |
+44 (0) 20 3100 2000 |
This information is provided by RNS
The company news service from the London Stock Exchange
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