Gresham House PLC Gresham House rebrands forestry division
November 22 2016 - 2:02AM
RNS Non-Regulatory
TIDMGHE
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 GBP238 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 GBP15 million first close of the Gresham House Forestry
Fund LP ("The Fund"), which is targeting a total fundraising of
GBP50 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 GBP12 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.GBP375 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:
Gresham House plc
Anthony Dalwood +44 (0) 20 3837 6270
Montfort Communications,
PR Adviser
Gay Collins +44 (0) 203 770 7906
Rory King greshamhouse@montfort.london
Liberum
Neil Elliot/Jill Li +44 (0) 20 3100 2000
www.greshamhouse.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
NRAKMMZMGMKGVZZ
(END) Dow Jones Newswires
November 22, 2016 02:02 ET (07:02 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