Gresham House Asset Management (GHAM), part of AIM-listed alternative asset manager Gresham House, has been selected by AXA Investment Managers to manage a large real asset.

AXA IM has selected Gresham to manage a 4,074-hectare portfolio of mature Irish forests on a long term contract.

According to a statement by GHAM, the firm is the UK’s largest commercial forestry manager, harvesting circa 10% of the UK’s total softwood annually. Following this major appointment, it will manage over 129,000 hectares of forests on behalf of institutions, endowments, family offices and private investors.

The appointment follows the acquisition of the Portfolio by AXA IM - Real Assets, acting on behalf of clients, for an undisclosed sum, from Veon Limited, the forestry consultancy, which is being retained to provide forestry management services.

Tony Dalwood, Chief Executive Officer of Gresham House, said: “The strategic rationale for this partnership, alongside the potential financial returns, are clear and exciting for both Gresham House and AXA IM – Real Assets.

“As the UK’s largest private forestry investment manager, this Portfolio marks the first step in our ambition to develop a long-term international business platform, increasing assets under management across a wide array of real asset investments. It also gives us a foothold in Ireland which may benefit our wider asset management business as Brexit unfolds. We believe there is a significant investment opportunity in forestry and this area will continue to be a key focus for Gresham House moving forward as we look for further ways to add value for our clients.”

Read a profile of Gresham House here