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Gresham House PLC (GHE)

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Thursday 04 November, 2021

Gresham House PLC

CMD and GH25 AUM target increased by 33% to £8bn

RNS Number : 2827R
Gresham House PLC
04 November 2021
 

4 November 2021

Gresham House plc

("Gresham House", the "Company" or the "Group")

Capital Markets Day and GH25 AUM target increased by 33% to £8bn

Gresham House (AIM: GHE), the specialist alternative asset manager, today announces that it has seen continued positive growth and momentum across all its divisions. It has therefore increased its target for Assets Under Management (AUM) by 33% to £8 billion from the previous £6 billion target, as part of the Group's GH25 strategy first unveiled on 5 March 2020.

 

The increased AUM target of £8 billion announced today reflects the growth opportunity the Group is seeing across its Strategic Equity and Real Assets divisions. Gresham House's proforma AUM stood at £5.4 billion1, following completion of the acquisition of the Venture Capital Trust business of Mobeus Equity Partners LLP on 1 October 2021.

 

Gresham House will maintain its GH25 financial targets for an EBITDA margin of 40% and ROIC of 15% by 2025.

 

 

Tony Dalwood, Chief Executive of Gresham House plc, said :

"We are delighted to be upgrading our GH25 AUM target by 33% to £8 billion. We are seeing strong momentum across all areas of our business, driven by continued appetite for our private market, and specialist ESG-focused strategies.

"Since we announced the GH25 strategy only 20 months ago, we have made clear progress towards achieving our objectives to become a recognised leader in ESG and sustainable investing, deliver superior returns, build market share in specialist product areas, and develop internationally.

"This upgrade to our AUM target demonstrates our confidence in our ability to deliver further shareholder value in the coming years."

Capital Markets Day

Gresham House is hosting its first Capital Markets Day today at 2pm (GMT), entitled "Capturing the growth opportunity". The online event will provide insights into the purpose, relevance, scalability and growth prospects for the Group across each of its five strategies - Forestry, New Energy & Sustainable Infrastructure, Housing, Public Equity and Private Equity. The agenda includes:

Shaping investment solutions to address key client channels - Looking at the role of sales and distribution to support the AUM growth ambitions of Gresham House, and strategic targets for GH25 and beyond

Forestry - A Sustainable Real Asset - Examining the investment case for commercial forestry, plans to further expand the forestry business and staying ahead of the market

New Energy - Supporting the transition to net zero - Insights into the opportunity within our pioneering Gresham House New Energy strategy, the drivers behind growth and the compelling characteristics available to investors

Building long term value as a sustainable business and employer - Sustainable investing plays a central role within the business; exploring what this encompasses and the tailwinds and headwinds for sustainable investing over the next 12 months

Sustainable Infrastructure - Innovative solutions for a more sustainable future; what clients are looking for in terms of both financial and non-financial returns from sustainable infrastructure assets and the plans to grow this area of the business

Housing - Institutionalising the UK's biggest asset class - Why the housing sector presents such a compelling investment opportunity and why we are well positioned to capture growth within this marketplace

Strategic Equity - Investing in innovation growth and income - Exploring the differentiation Gresham House brings to the UK equity market as well as the key drivers for growth

An analyst's view - Justin Bates, Head of Research at Canaccord Genuity

An external view on the business and why to consider buying Gresham House

Summary of the investment case - Kevin Acton, Chief Financial Officer - Review of the Company's financial performance and progress

 

The presentations will be followed by a live Q&A.

Register for the event by visiting https://greshamhouse.connectid.cloud/register

1 Pro-forma based on 30 June 2021 AUM of 4,722 million, plus 352 million raised post period end and 369 million AUM of Mobeus VCTs.

- Ends -

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) NO 596/2014.

Notes to Editors

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.£5.4 billion1  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.

 

For more information contact:    

 

Gresham House plc    

T ony Dalwood, Chief Executive Officer    

Kevin Acton, Chief Financial   Officer    

 +44 (0)20 3837 6270    

 

Houston - media and analysts     

Alexander Clelland    

Kay Larsen    

  [email protected]    

+44 (0) 20 4529 0549 

Canaccord Genuity Limited - Nominated Adviser and Joint Broker    

B obbie Hilliam    

Georgina McCooke    

  +44 (0)20 7523 8000    

 

Jefferies International Limited - Joint Broker and Financial Adviser 

Paul Nicholls    

Max Jones    

  +44 (0)20 7029 8000    

 

Certain statements contained in this announcement constitute "forward-looking statements" with respect to the financial condition, performance, strategic initiatives, objectives, results of operations and business of the Company. All statements other than statements of historical facts included in this announcement are, or may be deemed to be, forward-looking statements.  Without limitation, any statements preceded or followed by or that include the words "targets", "plans", "believes'", "expects", "aims", "intends", "anticipates", "estimates", "projects", "will", "may", "would", "could" or "should", or words or terms of similar substance or the negative thereof, are forward-looking statements.  Forward-looking statements include statements relating to the following: (i) future capital expenditures, expenses, revenues, earnings, synergies, economic performance, indebtedness, financial condition, dividend policy, losses and future prospects; and (ii) business and management strategies and the expansion and growth of the Company's operations. Such forward-looking statements involve risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors could cause actual results, performance or achievements to differ materially from those projected or implied in any forward-looking statements. The important factors that could cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, economic and business cycles, the terms and conditions of the Company's financing arrangements, foreign currency rate fluctuations, competition in the Company's principal markets, acquisitions or disposals of businesses or assets and trends in the Company's principal industries.  Due to such uncertainties and risks, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements in this announcement may not occur. The forward-looking statements contained in this announcement speak only as of the date of this announcement.  The Company and its Directors each expressly disclaim any obligation or undertaking to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, unless required to do so by applicable law or regulation, the AIM Rules, UK MAR, the DTRs, the rules of the London Stock Exchange or the Financial Conduct Authority.

 

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