We are pleased to announce that Liberum has successfully raised £15m through the placing of 3.7m shares in Gresham House at 410p with new and existing institutional investors.
Gresham House is a specialist alternative asset manager offering funds, direct investment and tailored investment solutions, including co-investment, on a range of differentiated alternative investment strategies.
The Company will use the £15m proceeds to partially fund the acquisition of FIM Services Ltd, an alternative investment manager specialising in UK real assets, specifically forestry (83,000 hectares) and renewable energy generation (137MW).
FIM will be acquired for an initial consideration of £21 million (£11 million of cash and £10 million of Gresham House equity) with a deferred
consideration of up to £4 million payable in cash and based upon certain performance criteria.
The acquisition will more than double Gresham House’s AUM, taking it from £649 million to c.£1.5 billion of assets under management. In addition, the acquisition will make the enlarged group profitable and significantly enhance EPS.
Liberum acted as NOMAD and Sole Bookrunner on the placing. Taurus London acted as Financial Advisor on the acquisition.
Investment Banking – Neil Elliot, Jill Li, Youichi Iisaka, Trystan Cullen
Sales – SMID Cap team
Specialist Sales – Steve Keeling
Execution – Graham Smith, Mark O'Hara
Corporate Access – Lucy Williams, Marcio Remedios
Press Enquiries: Redleaf Polhill
Call: +44 (0)20 7382 4747