Gresham LLP Information

Gresham to focus on returning cash to investors Gresham has announced that, following careful consideration and discussion of the situation with its investors, it has decided not to raise another fund. The decision comes despite a number of successful exits in recent months and the belief that the current team and strategy are very well placed to continue to deliver strong returns for investors. Recent exits include the sale of ICR (4x), Hotter Shoes (3.7x), LAS (2.7x) and Swift (2x). The senior team remains fully in place and is entirely focused on realising the remaining fund investments. Simon Inchley, CEO, commented: “After a tough start to the Gresham 4 fund in difficult economic circumstances, I am proud of the progress the team has made since 2008, delivering on a revised strategy and leading a strong recovery in our fund valuation and liquidity generation. However, despite this achievement, the quality of our team and the firm’s long track record, the reality is that we will not be able to raise a sufficiently large fund in an acceptable timeframe. The senior management team is completely aligned and remains focused on generating the best value out of our investments. The timing of this decision is designed to ensure that we have sufficient resource and time to deliver on this.”