Gresham House has fully acquired Irish fund manager Appian Asset Management in a deal that gives the firm a European presence.
The asset manager today announced the completed acquisition of Appian, which manages €350m in assets, following regulatory approval from the Central Bank of Ireland.
Gresham House said the acquisition accelerates the firm’s five-year growth and international expansion plans, giving it an EU-based platform post-Brexit.
The purchase lifts Gresham House’s issued share capital to 3.3m ordinary shares, and is expected to be “earnings enhancing” for the fund manager.
Appian, which manages a range of globally invested funds, is now fully integrated and will trade as Gresham House Ireland.
Gresham House also said the acquisition would strengthen its sustainability focus – an area in which it has seen strong growth recently as interest in ESG pushed its assets under management higher.
In May, the asset manager reported a 42 per cent rise in AUM to £4bn over the year with organic growth of £1bn across housing, forestry and sustainable infrastructure.
It was largely driven by £437m of positive performance in forestry, which saw value increase 29 per cent over the year. Strategic public equity rose 15 per cent while the remaining asset classes remained stable.