Gresham House closes £200m housing and infrastructure fund

Gresham House has raised £200m for its British Strategic Investment Fund. It secured new commitments of £35m from the Greater Manchester Pension Fund and the Greater London Authority. GMPF has also committed £20m to a North West co-investment portfolio. The BSIF platform invests in UK housing and infrastructure. It is a 12-year close-ended fund targeting annual net returns of 8-10% and an income yield of 5-6% per annum. The fund includes investments from the Royal County of Berkshire Pension Fund and Teeside Pension Fund. Tony Dalwood, chief executive of Gresham House, said: “BSIF continues to support opportunities within the UK’s vital housing and infrastructure sectors, a substantial investment universe which affords clear opportunity for both financial and positive impact returns.” Luke Webster, the GLA’s chief investment officer and managing director of the GLA’s asset management company, London Treasury, said the investment would help to diversify the London Strategic Reserve portfolio. He said the GLA “looks forward to the BSIF team delivering solid financial returns to help preserve the spending power of London’s long-term cash reserves, with corollary environmental and social benefit”. To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette