Gresham House is readying growth in Europe with the acquisition of Appian Asset Management.
The investor aims to buy the Irish fund manager to establish an EU-based platform to develop strategies in Ireland and Europe, with a focus on social housing, sustainable infrastructure and specialist equities.
Gresham House unveiled the plans in a trading review that saw its AUM grow by 42% to £3.9bn for the year ended 31 December.
Chief executive Tony Dalwood said: “In a challenging environment, we have delivered strong progress against our strategic and financial objectives, including delivering strong organic growth rates and executing attractive acquisitions.”
During the year the firm acquired Residential Secure Income’s fund manager, TradeRisks, to grow its specialist housing offering and raised £300m.
ReSI specialises in shared-ownership housing. For the year, it reported NAV per share steady at 105p with like-for-like portfolio growth of 0.6% to £304.6m.
See also: The EG Interview: Gresham House homes in on shared ownership
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