Gresham House, the specialist alternative asset manager committed to sustainable investing, provides an update on recent activity across a range of asset classes that continues to drive momentum in the Group.
Baronsmead VCTs
On 16 December 2022, the Baronsmead VCTs announced the launch of an offer for subscription to raise up to £40 million in aggregate with the discretion to utilise over-allotment facilities to raise up to a further £10 million in aggregate. On the 27 March, it was announced that the offer was fully subscribed and closed. The £50 million raised by the Baronsmead VCTs will allow them to target new investment opportunities in the short to medium term and to continue to support the capital requirements of existing portfolio companies.
The Baronsmead VCTs are two of the largest on the market, with combined net assets of £408 million as at 24 March 2023. Taking a unique hybrid approach their portfolios comprise both AIM-quoted companies and unquoted companies.
Gresham House Secure Income Renewable Energy & Storage LP (SIRES)
On 30 March 2023 the UK Infrastructure Bank (“Bank”) announced a commitment to invest £75 million on a match funding basis into the new Gresham House Secure Income Renewable Energy & Storage LP (SIRES) alongside a
£65 million investment from Centrica.
Gresham House’s SIRES fund will focus on developing the collocation of renewable generation and short-duration battery energy storage facilities. The £65 million investment from Centrica will be used to fund the construction of the seed asset, a collocated solar and battery energy storage project in Hartlepool, County Durham, with 50 MWp solar capacity and 75 MWh of battery energy storage.
Sustainable Investment Report
On 4 April, the Group launched its latest Sustainable investment Report, which outlines how we maintained our commitment to driving the sustainability agenda forward in 2022 as we continued to expand the scope and quality of the ESG metrics that we collect, measure and monitor. The report shows the significant progress we have made
towards delivering the goals of our Corporate Sustainability Strategy.
Tony Dalwood, CEO at Gresham House plc said:
“Following the recent announcement of our strong annual results, it is great to see positive momentum continue into 2023, with successful fundraising in a number of our strategies which target attractive financial returns alongside driving the sustainability agenda.”
