Alternative asset manager Gresham House delivered another strong performance in 2021, with assets under management hitting £6.5bn, up from £4bn a year ago.
The 65% year-on-year AUM growth recorded in 2021 followed a 42% boost to assets in 2020.
Net inflows of £1.2bn were recorded across all of the group’s strategies, a marked increase from the £400m in 2020.
The asset manager reported £206m of net inflows into its Strategic Equity open-ended and VCT funds, while it secured £100m of additional fundraising for Gresham House Energy Storage Fund (Grid).
The biggest contributor was the £403m from its Axa Investment Managers Alts’ Australian forestry mandate.
Gresham House has set its dividend at 10p per share, a 67% increase from 6p last year.
Organic and acquisition growth strategy
Of the £2.5bn AUM increase, around £1.9bn was “organic” the firm said, while M&A deals enhanced AUM by £625m.
Gresham House’s acquisition of Ireland-based AIFM Appian Asset Management completed in June 2021, with the Mobeus Equity Partners deal signed off in October.
In addition to its annual results statement, Gresham House separately announced it has acquired an Ireland-based independent commercial property asset and development management company for €1.8m (£1.5m).
Based in Dublin, Burlington Real Estate was set up in 2012 and has had a “successful strategic partnership with Gresham House Ireland (previously Appian AM)”.
It will add €340m of assets to Gresham House Ireland, taking its total AUMA to circa €750m.
Minimal exposure to assets at risk of sanctions
Gresham House chief executive Tony Dalwood said the company “made exceptional progress” on the delivery of its five-year strategy, known as GH25.
In November 2021, the firm ratcheted up its AUM target to more than £8bn by 2025, having previously aimed for £6bn.
Dalwood added: “Despite the current macroeconomic environment and geo-political events, we are confident of further growth throughout 2022.”
The group said it does not manage or own any Russian assets and it has minimal exposure to assets at risk of Russian sanctions.
“We believe that we do not have any Russian shareholders,” it added.