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Gresham House buys Irish boutique fund manager Dec 22, 2020 By Funds Europe
Specialist investment manager Gresham House, which recently won the Funds Europe award for best European alternative manager, has acquired Ireland-based boutique Appian Asset Management.
The deal has been sealed for an initial consideration of €4.55 million, with €3.6 million payable upon completion.
Based in the Republic of Ireland, Appian is an active asset manager with around €330 million in assets under management as at September 30, 2020.
Gresham chief executive Anthony Dalwood said establishing a regulated platform in Ireland will allow the firm to further build its specialist asset management business in Ireland and the EU.
UK alts boutique buys Irish firm to expand into Europe citywireselector.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from citywireselector.com Daily Mail and Mail on Sunday newspapers.
Gresham House acquire Appian Asset Management Limited for €4.55 million 7:17 am
Gresham House plc (LON:GHE), the specialist alternative asset manager, has announced the acquisition of Appian Asset Management Ltd for an initial consideration of €4.55 million, with €3.6 million payable on completion (€2.7 million in cash from existing resources of the Group and €0.9 million in new shares issued by the Company) and including €0.95 million for cash within the business. Further variable deferred consideration is payable subject to targeted earnings performance up to 31 December 2023, bringing potential total consideration to €10.0 million. The transaction is subject to approval from the Central Bank of Ireland.
Based in the Republic of Ireland, Appian is an active asset manager with c. €330 million in Assets Under Management (AUM) as at 30 September 2020 with €0.4 million normalised EBITDA for the year to 30 November 2020. The firm manages a range of fu
Investment Week is hosting its Global Emerging Markets Briefing at a pivotal time for investors as they start to position for the recovery from the Covid-19 pandemic, although risks remain.
During this interactive briefing, we will hear from a number of global emerging market managers about their response to the extraordinary events of the past year and their outlook for the rest of the year and beyond.
The managers will identify where they are seeing the biggest opportunities and risks at the moment in emerging markets and explain the role their strategies could play in client portfolios.
Attendees will also get the chance to network with peers, quiz our speakers, as well as benefit from CPD points