Launch of Irish forestry fund
09/01/2023 07:00
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RNS Number : 0135M Gresham House PLC 09 January 2023
RNS
REACH
09 January 2023
Gresham House plc
("Gresham House", the "Company" or the "Group")
Launch of Irish forestry fund
Gresham House, the specialist alternative asset manager with a significant
presence in Ireland, has launched a major new fund to enable Irish and
international investors to fund greater forest cover across Ireland.
The "Irish Strategic Forestry Fund" will provide up to €200mn to create new
forests, making a significant contribution to Ireland's Climate Action Plan.
It has already attracted €35mn from Irish investors, including a €25mn
cornerstone investment from the Ireland Strategic Investment Fund ("ISIF"),
Ireland's sovereign development fund.
ISIF's capital will complement other Irish and international capital sourced
by Gresham House to promote sustainable investments in a sector that is key to
addressing the climate crisis.
The new fund will also acquire existing forest assets and when fully deployed
will represent a portfolio of approximately 12,000 hectares of new and
existing forests.
The fund will be managed from Gresham House's Dublin office, with Joe
O'Carroll acting as Investment Director. Gresham House has the scale and
experience of managing large-scale privately funded forestry assets across the
world.
The new fund has put in place an operational management agreement with
Coillte, Ireland's semi-state manager of forestry and timber investments. The
development of the fund will therefore benefit from Coillte's long-term track
record operating in the Irish forestry sector.
Tony Dalwood, Chief Executive, Gresham House plc, says:
"This initiative marks the latest step in Gresham House's expansion in
international forestry, building on our 40 years' experience of commercial
forestry management and our position as a global market leader. It will create
a platform for enhancing Ireland's forestry sector, delivering real change and
momentum and make a meaningful contribution to Ireland's crucial afforestation
ambitions."
ENDS
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.
The fund is Gresham House's third major initiative in Ireland over the past
year, following its acquisitions of leading investment manager Appian Asset
Management and Burlington Real Estate, a specialist property manager and real
estate investment advisor, in 2021 and early 2022, respectively. It also forms
part of Gresham House's aim to expand its existing capability in real assets
in Ireland, including in battery energy storage, solar, and sustainable
infrastructure
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.£7.5bn of assets (unaudited as at 30 September 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 (http://www.greshamhouse.com)
For more information contact:
+44 (0)20 3837 6270
Gresham House plc
Kevin Acton, Chief Financial Officer
gh@houston.co.uk (mailto:gh@houston.co.uk)
Houston - media and analysts +44 (0) 20 4529 0549
Kay Larsen
Kelsey Traynor
+44 (0)20 7523 8000
Canaccord Genuity Limited - Nominated Adviser and Joint Broker
Bobbie Hilliam
Harry Pardoe
+44 (0)20 7029 8000
Jefferies International Limited - Joint Broker and Financial Adviser
Paul Nicholls
Max Jones
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