55.58 F
May 26, 2024
PI Global Investments
Alternative Investments

Gresham House purchase is confidence vote in UK alternative investment sector

The acquisition of specialist alternative asset manager Gresham House, is a big vote of confidence in the UK’s alternative investment industry, Nicholas Hyett, investment manager at Wealth Club, has said.

It was announced earlier today that US investment firm Searchlight Capital had agreed to buy UK asset manager Gresham House in a £470mn deal, sending shares in the London-listed group up more than 50 per cent. 

Under the terms of the deal announced on Monday, Gresham House investors will receive £11.05 in cash, a 63 per cent premium to where the company’s shares closed on Friday. 

Gresham House manages about £8bn and invests mainly in forestry, and sustainable assets such as, renewable energy and battery storage.

Hyett said Gresham had been an important driver of capital behind major government initiatives to decarbonise the economy and spur innovation through investment in start-ups. 

He added: “Those investment categories have struggled a bit in a rising interest rate environment, but Searchlight clearly sees the long-term potential.

“In fact, “opportunistic acquisition of a temporarily out of favour investment” sums up this deal all over.”

Source link

Related posts

Goldman Sachs AM Launches Private Credit Fund for Europe’s Rich


Ex-Macquarie Group MD and Navigator Global CEO Stephen Darke says Blackrock’s $US12.5bn mega-takeover of GIP bolsters alternative demand


Destra Capital to Acquire Altegris Funds


Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.