Gresham House completes Appian deal to establish EU presence

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Gresham House completes Appian deal to establish EU presence

Gresham House has completed the acquisition of Appian Asset Management, following approval from the Central Bank of Ireland, to establish Gresham House Ireland. 

The specialist alternative asset manager announced it was set to acquire Ireland-based Appian in December last year, for a total consideration of €10m.

The deal is part of Gresham House's international expansion plans and gives it a regulated EU-based platform post-Brexit.

The acquisition enhances the group's capabilities to develop existing strategies in Ireland and Europe, particularly those with a sustainability focus including forestry, sustainable infrastructure and real estate."

As at 31 December 2020, Appian Asset Management had assets under management of €350m, managing funds across equities, infrastructure and forestry, with the deal set to bring the group's pro forma AUM to £3.6bn.

In a statement following completion of the deal, Gresham House said: "The acquisition enhances the group's capabilities to develop existing strategies in Ireland and Europe, particularly those with a sustainability focus including forestry, sustainable infrastructure and real estate.

"Appian's existing funds complement those offered by Gresham House and will benefit from the support of the Gresham House brand, infrastructure and central resources.

"In addition, the ambition to increase its presence in alternative asset classes dovetails with the group's existing forestry asset management platform and growth strategy in Ireland."

Appian will now be known as Gresham House Ireland.

First published by our sister title Investment Week