Gresham House’s British Strategic Investment Fund commitments hit £200 million after interim close

Alternative listed asset manager Gresham House (Gresham House), has announced today the successful interim close of its British Strategic Investment Fund, taking total commitments to £200m. Final close is expected in Q4 2020.

Greater Manchester Pension Fund and Greater London Authority have made new commitments totalling £35 million. Furthermore, Greater Manchester Pension Fund has committed a further £20 million to a North-West co-investment portfolio. The new limited partners join cornerstone investors, the Royal County of Berkshire Pension Fund and Teesside Pension Fund.

Tony Dalwood, CEO of Gresham House plc and BSIF Investment Committee member said: “BSIF continues to support opportunities within the UK’s vital housing and infrastructure sectors, a substantial investment universe which affords clear opportunity for both financial and positive impact returns. We are excited to welcome two further, and highly-respected, institutional investors.”

Luke Webster, the GLA’s CIO and Managing Director of the GLA’s asset management company, London Treasury Limited said: “We are delighted to add this diversifying investment to the London Strategic Reserve portfolio. and look forward to the BSIF team delivering solid financial returns to help preserve the spending power of London’s long-term cash reserves, with corollary environmental and social benefit.”

UK housing and infrastructure have been identified by the UK Government as being structurally important areas requiring local investment and the BSIF platform offers investors flexibility to access either or both segments, alongside the potential for regional and co-investment opportunities.

Sustainable investing forms a key part of BSIF’s investment philosophy. As well as seeking superior, risk-adjusted returns, a positive impact is a necessary requirement for every investment. This drives our ability to target a “double bottom-line” return for clients.

As a closed-ended fund with a 12-year time horizon, BSIF invests with a long-term view targeting an 8-10% annual net return including an income yield of 5-6 percent per annum.