Gresham House PLC First Close of Gresham House Forestry Fund LP (8050N)
October 31 2016 - 3:00AM
UK Regulatory
TIDMGHE
RNS Number : 8050N
Gresham House PLC
31 October 2016
31 October 2016
Gresham House plc ("Gresham House" or "the Company")
(AIM: GHE)
Gresham House Announces GBP15 million First Close of Gresham
House Forestry Fund LP
Gresham House, the specialist asset manager, is pleased to
announce the first close of the Gresham House Forestry Fund LP
("the Fund") with GBP15.0 million of commitments and finance raised
for the strategy from university college endowment funds, family
offices and private individuals, including GBP1.25 million from
Gresham House.
Richard Davidson will manage the Fund with support from the
Gresham House dedicated forestry team and will target net returns
of 10% per annum, which includes an expected annual income
distribution of 2% to 4% from timber sales.
The Company is targeting a final close for the Fund in H2 2017
at a size of GBP50.0 million.
The Fund has now contracted to acquire the portfolio of five
forests in the West of Scotland for c. GBP12.1 million previously
referenced in the Company's announcement regarding the launch of
the Fund.
The Fund's limited partnership structure enables UK investors to
benefit from the significant incentives associated with direct
ownership of UK commercial forests.
Rupert Robinson, Managing Director of Gresham House Asset
Management, said:
"We are pleased to launch the Fund and encouraged by the
increasing level of interest from investors. Forestry as an
alternative asset class is growing in popularity amongst
institutional and private investors. As investors increase
allocations to real assets, timber is being recognised for its
compelling investment credentials: it is a physical asset that
generates income, gives inflation protection, is lowly correlated
to equities and bonds, and importantly, trees grow irrespective of
whether financial markets are rising or falling.
Launching the Fund is in line with our strategy to grow assets
under management organically. It provides investors with access to
a 'green' investment that has significantly outperformed equities,
bonds and real estate over the last ten years and enables private
individuals to pass on wealth from one generation to another free
of inheritance tax."
Enquiries:
Gresham House plc
Rupert Robinson 020 3829 0770
Liberum Capital Ltd
Neil Elliot
Jill Li 020 3100 2000
Montfort Communications, greshamhouse@montfort.london
PR Adviser 0203 770 7906
Gay Collins
Rory King
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCAKKDNABDDCKN
(END) Dow Jones Newswires
October 31, 2016 03:00 ET (07:00 GMT)
Gresham House (LSE:GHE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Gresham House (LSE:GHE)
Historical Stock Chart
From Apr 2023 to Apr 2024