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Alternative Market Briefing

Aberdeen Standard and alternatives boutique Gresham House join forces

Friday, March 22, 2019

Laxman Pai, Opalesque Asia:

Aberdeen Standard Investments (ASI), the fund management arm of Standard Life Aberdeen, has formed a joint venture (JV) with UK-based alternatives specialist Gresham House to target smaller listed companies.

The JV, which will be owned 50:50 by Gresham and Aberdeen, will look to establish a fund, and increase its funds under management over time by investing in companies with a market cap of under GBP300m.

Aberdeen agreed to subscribe for 1.3 million shares in Gresham House for 496 pence per share, or GBP6.5m in total, reflecting a 5.0% stake in Gresham.

Aberdeen Standard will also partner with Gresham House, which has $3bn) in assets under management, to invest in small-cap equity.

Tony Dalwood, chief executive of Gresham House, said: "Like us, Aberdeen Standard Investments understands the importance of small-cap stocks and of specialist alternative investment strategies. This joint venture offers Gresham House access to a powerful distribution network and an industry-leading product development capability."

Commenting on the developments, David Potter, Chairman of GHS said: "The announcement by Gresham House and Aberdeen Standard Investments is an encouraging and positive endorsement of the Strategic Public Equity Strategy and one which we welcome."

He added: "We believe GHS will benefit in future from the growing profile this investment strategy is enjoying as a result of the proposed joint venture, from increased reso......................

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