Receive free Gresham House PLC updates
We’ll send you a myFT Daily Digest email rounding up the latest Gresham House PLC news every morning.
US investment firm Searchlight Capital has agreed to buy UK asset manager Gresham House in a £470mn deal, sending shares in the London-listed group up more than 50 per cent.
Under the terms of the deal announced on Monday, Gresham House investors will receive £10.05 in cash, a 63 per cent premium to where the company’s shares closed on Friday.
Gresham House manages about £8bn and invests mainly in sustainable assets such as renewable energy and battery storage.
“We are confident that Searchlight will accelerate our international and
domestic growth strategy,” said Anthony Townsend, chair of Gresham House.
Shares in Gresham rose 55 per cent in London on Monday.