Disposal of shareholding in Rockwood Realisation
21 March 2022
Gresham House plc
("Gresham House", the "Company" or the "Group")
Disposal of shareholding in Rockwood Realisation plc
Gresham House plc, the specialist alternative asset manager, is pleased to announce the disposal of its entire 23.7% shareholding in Rockwood Realisation plc (RKW). Gresham House Asset Management had previously managed the fund, formerly known as Gresham House Strategic plc (GHS), for six years from 2015. A change of manager was announced in October 2021, and the fund was subsequently renamed.
As part of the transaction, the Group has agreed to acquire an investment in Hanover Co-Invest S.C.A. SICAV-RAIF Sub-Fund 1 ("Hanover Co-Invest") from RKW for £855,586. The Hanover Co-Invest acquisition is complementary as part of the Group's ambition to grow its strategic equity platform.
The disposal of the Gresham House shareholding in RKW is in line with its stated strategy of typically investing directly into vehicles which it manages. The performance of GHS under Gresham House management over the six years delivered a total return of 141%, a substantial outperformance versus the 74% of its benchmark, and provides a further example of Gresham House generating shareholder value from the use of balance sheet capital.
As a result of the disposal, Gresham House plc will have an additional £8.5mn of cash on its balance sheet to support its strategic growth priorities.
- Ends -
For more information contact:
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Gresham House plc Anthony Townsend, Chairman
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+44 (0)20 3837 6270 |
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Houston Alex Clelland Kay Larsen Joseph Burgess
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gh@houston.co.uk +44 (0)204 529 0549 |
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Canaccord Genuity Limited - Nominated Adviser and Joint Broker Bobbie Hilliam Georgina McCooke
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+44 (0)20 7523 8000 |
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Jefferies International Limited - Joint Broker Paul Nicholls Max Jones
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+44 (0)20 7029 8000
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About Gresham House
Gresham House is a specialist alternative asset management group, dedicated to sustainable investments across a range of strategies, with expertise across forestry, housing, sustainable infrastructure, renewable energy and battery storage, public and private equity.
Our origins stretch back to 1857, while our focus is on the future and the long term. Quoted on the London Stock Exchange (GHE:LN) we actively manage c.£6.5 billion of assets on behalf of institutions, family offices, charities and endowments, private individuals and their advisers. We act responsibly within a culture of empowerment that encourages individual flair and entrepreneurial thinking.
As a signatory to the UN-supported Principles for Responsible Investment (PRI), our vision is to always make a positive social or environmental impact, while delivering on our commitments to shareholders, employees and investors. www.greshamhouse.com
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