Gresham House, a sustainability-focused asset management group, has reported an increase in assets under management for the first half of 2023, resulting in higher income and pretax profit. The London-listed group saw an operating pretax profit of £5.2 million ($6.5 million) for the six months ending June 30, compared to £3.2 million for the same period in the previous year. Total income for the group reached £44.8 million, up from £39.6 million. The company's assets under management at the end of the period amounted to £8.3 billion, reflecting a 5% organic growth. Despite a market slowdown for fundraising, Gresham House remains optimistic about continued growth in the second half of the year across all asset classes. The group also announced that shareholders have approved Searchlight Capital Partners' takeover offer, and the company is set to delist and operate as a private group going forward.
Key Highlights
- Gresham House reports rise in assets under management and pretax profit for H1 2023.
- Operating pretax profit reaches £5.2 million, compared to £3.2 million in the previous year.
- Total income increases to £44.8 million.
- Assets under management stand at £8.3 billion, representing 5% organic growth.
- Gresham House anticipates further growth in the second half of 2023.
- Shareholders approve Searchlight Capital Partners' takeover offer, leading to plans for delisting and operating as a private group.
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