TIDMGHE
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
GBP8bn
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 GBP8 billion
from the previous GBP6 billion target, as part of the Group's GH25
strategy first unveiled on 5 March 2020.
The increased AUM target of GBP8 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 GBP5.4 billion(1) , 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
GBP8 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:
o 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
o 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
o 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
o 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
o 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
o 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
o 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
o 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
o 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 GBP4,722 million, plus
GBP352 million raised post period end and GBP369 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.GBP5.4 billion(1) 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 gh@houston.co.uk
Alexander Clelland +44 (0) 20 4529 0549
Kay Larsen
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
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or otherwise, unless required to do so by applicable law or
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