Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Gresham House raises £8m as it launches pension strategy

Gresham House raises £8m as it launches pension strategy

Gresham House is to raise up to £8.2 million in new equity from the Royal County of Berkshire Pension Fund, giving it a 20% stake in the specialist asset manager.

Gresham House has also announced the launch the British Strategic Investment fund (BSIF), a discreet long-term and low-liquidity strategy designed to appeal to pension fund and family office investors. 

Chair of the Berkshire pension fund John Lenton said: 'This platform will enable us to reduce costs and obtain diversity in our investments.

'We will be targeting niche areas and make investments which are smaller and usually longer term than those that interest the major investment houses.'

Berkshire has subscribed for up to 2.5 million new ordinary shares in the business at a price of 325p per share, a 7.3% premium to the closing price on on 20 February.

The deal depends on Financial Conduct Authority approval and the blessing of current shareholders at the AGM next month.

Gresham House hopes to raise £300 million in new investment for BSIF, which will focus on 'innovation', housing and infrastructure

Investors will have the ability to be involved in the investment process and have discretionary co-investment rights so they can add to any investments in preferred sectors.

The company said a number of local authorities have already expressed interest.

Tony Dalwood (pictured), CEO of Gresham House, said: ‘Today’s announcement represents a further significant step in delivering the growth strategy that we set out when repositioning the group two years ago.

'We welcome our new strategic shareholder in Gresham House and the long term capital investment platform we are now proposing is expected to grow our third party assets under management significantly, accelerating our path to profitability.’


Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Liontrust ESG head says sustainable investment doesn't mean low return

Liontrust ESG head says sustainable investment doesn't mean low return

Peter Michaelis talks about ethical investment growth and where he sees future opportunites.

Play Are platforms the biggest barrier to wealth manager ETF take-up?

Are platforms the biggest barrier to wealth manager ETF take-up?

Citywire hosted a roundtable discussion to find out how and if wealth managers are using ETFs in their clients' portfolios and the challenges they face trading through different platforms.

Play SVM's Veitch on what's next for banks

SVM's Veitch on what's next for banks

SVM fund manager Neil Veitch is finding value in what he describes as unstable financials and talks through his favourite small caps.

Read More
Your Business: Cover Star Club

Profile: UBS' robo boss on what his tween can teach the industry

Profile: UBS' robo boss on what his tween can teach the industry

Co-head of UBS SmartWealth Shane Williams explains the simple life lessons missed by the first wave of robo pioneers

Wealth Manager on Twitter