LONDON, UK: Gresham House plc, the specialist alternative asset manager, announced 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 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 Rockwood Realisation plc (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.
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