Gresham House has acquired Residential Secure Income’s fund manager, TradeRisks, to grow its specialist housing offering.
TradeRisks is the parent company of Residential Capital Management, which looks after ReSI’s £260m shared ownership, retirement and local authority housing.
ReSI has also announced chief executive Jon Slater will retire and his role will be taken over by TradeRisk’s chief executive Alex Pilato. All 23 employees will join Gresham House’s Real Assets division.
Gresham House is also targeting new partnerships to expand its UK portfolio, currently managed through its British Strategic Investment Fund.
Anthony Dalwood, chief executive at Gresham House, said: “Gresham House is focused on investing in sustainable real assets and the acquisition of TradeRisks/RCM allows us to enhance our social and specialist housing offering for clients, an area identified as structurally important for the UK.
“Gresham House also expects to raise further funds in the housing segment via ReSI and new private funds targeting institutional investors as limited partnerships.”
Gresham House has £2.8bn in assets under management. Last year it raised £200m for BSIF, securing a £35m commitment from the Greater Manchester Pension Fund and the Greater London Authority.
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