Gresham House increases AuM by 79%

AIM quoted Gresham House,  the specialist alternative asset manager, has increased assets under management by 79% for year ended 31 December 2017.

It also reported that operating profitability achieved in H2 2017 was ahead of expectations.

Highlights:

• Assets under management increased 79% to £649m (2016: £363m);
• Asset management revenue up 85% to £6.5m  (2016: £3.5m);
• Adjusted operating loss reduced to £0.7m (2016: £2.4m loss);
• Adjusted operating profitability achieved in the second half of 2017;
• Organic growth of £200m (a 55% rise over the year) including the launch of the British Strategic Investment Fund (“BSIF”) and growth across other existing strategies;
• Acquisition growth of £86m (up 24%) through the purchase of Hazel Capital, the renewable energy asset manager, in October 2017;
• Completed the sale of the legacy property portfolio post year end, fully repaying debt – strong balance sheet with tangible/realisable assets of £24.4m.

CEO of Gresham House Anthony Dalwood said: “Three years on from the start of our journey, Gresham House Group is a specialist alternatives asset manager in a strong position to build the momentum that we have created. We are seeing institutional investors increasing their allocations to alternatives.  With our newest offerings in new energy and infrastructure, we can provide pension funds, family office and other institutional clients with tailored solutions including co-investment opportunities in some of the fastest growing and most sought-after market segments in the alternatives sector.

“We have a promising pipeline of acquisitions and organic growth opportunities, a strong balance sheet and a high-quality team to continue to execute the shareholder value creation strategy in 2018.”