Gresham House plc A Year of Organic Growth with 79% Increase in AUM

Gresham House Plc

Gresham House plc (LON:GHE) today provided their audited results for year ended 31 December 2017 and also announced a new non-executive director will join the board.

A Year of Organic Growth with 79% Increase in Assets Under Management plus Operating Profitability Achieved in H2 2017 Ahead of Expectations

  • Assets under management (“AUM”) increased 79% to £649 million (2016: £363 million)
  • Asset management revenue up 85% to £6.5 million (2016: £3.5 million)
  • Adjusted operating loss reduced to £0.7 million (2016: £2.4 million loss)
  • Adjusted operating profitability achieved in the second half of 2017
    Organic growth of £200 million (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 £86 million (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 £24.4 million

 

Anthony Dalwood, CEO of Gresham House, comments: “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.”

Gresham House plc also announced that Rachel Beagles will join the Company’s Board as a Non-Executive Director effective 1 March 2018.

Rachel joins with a wealth of investment industry experience, and was recently appointed Chairman of the Association of Investment Companies (AIC). She is also Chairman of Securities Trust of Scotland plc (STS) and of NewlonBuild Ltd, a social housing provider, and also sits on the board of BlackRock Emerging Europe plc (BEEP) and Aberdeen New India Investment Trust plc (ANII). Prior to these appointments Rachel was Vice-Chairman of Newlon Housing Trust, and spent ten years as non-executive director of Schroder UK Mid Cap Fund plc (SCP) between 2006 and 2016, and four years as a managing director at Deutsche Bank Securities.

Anthony Townsend, Chairman of Gresham House, said: “I am very pleased to welcome Rachel to the Gresham House Board. Her wealth of experience and investment industry prowess will be invaluable to the Group. As we take Gresham House into its next stage of growth, the Board will have a significant role to play in the development of the business and I believe that Rachel is an ideal candidate to support the current management team as they seek to enhance the creation of shareholder and client value in 2018.”

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Gresham House plc

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