Private equity firm to buy Gresham House for £470m

US private equity firm Searchlight Capital has agreed to take over asset manager Gresham House for £469.8m. Shareholders in Gresham House will receive £11.05 cash per share. The deal values the asset manager at around £440.6m. Gresham House manages around £8bn of assets across the UK, Ireland, Australia and New Zealand. Those include investments in forestry, housing, sustainable infrastructure, renewable energy and battery storage, and public and private equity. Anthony Townsend, chairman of Gresham House, said: “The acquisition by Searchlight starts a new and exciting chapter for Gresham House. We are confident that Searchlight will accelerate our international and domestic growth strategy and their long-term capital and global expertise will support and enhance our investment teams’ ability to deliver returns to clients.” Giles Marshall, partner at Searchlight Capital Partners UK, said: “We very much look forward to supporting the team in the coming years, both through capital to help drive their organic and inorganic growth plans, as well as providing access to Searchlight’s extensive international network.” To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews