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Gresham House PLC
20 April 2023
RNS REACH
Gresham House plc
("Gresham House", the "Company" or the "Group")
Progress update
VCT fundraise success, new fund launch and Sustainable
Investment Report
20 April 2023
Gresham House, the specialist alternative asset manager
committed to sustainable investing, provides an update on recent
activity across a range of asset classes that continues to drive
momentum in the Group.
Highlights
-- VCTs - Baronsmead Venture Trust and Baronsmead Second Venture
Trust (the Baronsmead VCTs), successfully completed a fully
subscribed fundraise of GBP50 million
-- New Energy - Announcement of GBP140 million commitment from
Centrica and the UK Infrastructure Bank into the new Gresham House
Secure Income Renewable Energy & Storage LP (SIRES) to drive
the UK's transition to cleaner, greener energy
-- Sustainable Investment - Third annual Sustainable Investment
Report released by the Group, highlighting the range of reporting
and transparency that are provided for shareholders, as well as its
first Task Force on Climate-related Financial Disclosures (TCFD
report) a year ahead of the mandatory deadline
Baronsmead VCTs
On 16 December 2022, the Baronsmead VCTs announced the launch of
an offer for subscription to raise up to GBP40 million in aggregate
with the discretion to utilise over-allotment facilities to raise
up to a further GBP10 million in aggregate. On the 27 March, it was
announced that the offer was fully subscribed and closed. The GBP50
million raised by the Baronsmead VCTs will allow them to target new
investment opportunities in the short to medium term and to
continue to support the capital requirements of existing portfolio
companies.
The Baronsmead VCTs are two of the largest on the market, with
combined net assets of GBP408 million as at 24 March 2023. Taking a
unique hybrid approach their portfolios comprise both AIM-quoted
companies and unquoted companies.
Gresham House Secure Income Renewable Energy & Storage LP
(SIRES)
On 30 March 2023 the UK Infrastructure Bank ("Bank") announced a
commitment to invest GBP75 million on a match funding basis into
the new Gresham House Secure Income Renewable Energy & Storage
LP (SIRES) alongside a GBP65 million investment from Centrica.
Gresham House's SIRES fund will focus on developing the
collocation of renewable generation and short duration battery
energy storage facilities. The GBP65 million investment from
Centrica will be used to fund the construction of the seed asset, a
collocated solar and battery energy storage project in Hartlepool,
County Durham, with 50 MWp solar capacity and 75 MWh of battery
energy storage.
Sustainable Investment Report
On 4 April, the Group launched its latest Sustainable Investment
Report , which outlines how we maintained our commitment to driving
the sustainability agenda forward in 2022 as we continued to expand
the scope and quality of the ESG metrics that we collect, measure
and monitor. The report shows the significant progress we have made
towards delivering the goals of our Corporate Sustainability
Strategy.
Tony Dalwood, CEO at Gresham House plc said :
" Following the recent announcement of our strong annual
results, it is great to see positive momentum continue into 2023,
with successful fundraising in a number of our strategies which
target attractive financial returns alongside driving the
sustainability agenda."
For more information contact:
Gresham House plc
Tony Dalwood, Chief Executive Officer +44 (0)20 3837
Kevin Acton, Chief Financial Officer 6270
gh@houston.co.uk
Houston - media and analysts +44 (0) 20 4529
Kay Larsen 0549
Kelsey Traynor
Canaccord Genuity Limited - Nominated Adviser
and Joint Broker
Bobbie Hilliam +44 (0)20 7523
Harry Pardoe 8000
Jefferies International Limited - Joint Broker
and Financial Adviser
Paul Nicholls +44 (0)20 7029
James Umbers 8000
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,
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 GBP7.8bn of assets (31 December 2022)
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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