Gresham House acquires Appian Asset Management
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Boutique investment firm Appian Asset Management is being bought by UK based specialist alternative asset manager, Gresham House.
The transaction values Appian at an estimated €10m, including performance-based earnouts over the coming three years - with an initial consideration of €4.55m.
Gresham House has over £3.3bn (€3.6bn) in assets under management as at June 30 this year, and is quoted on the London Stock Exchange.
Appian was established in 2002 by CEO Patrick Lawless. Read More
Its key shareholders include Mr Lawless, Greg Lawless and Kevin Menton. The firm has circa €330m under management as at September 30, and operates a range of funds which invest globally across traditional and alternative asset classes including equities, property, infrastructure and forestry.