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British Strategic Investment Fund commitments reach GBP200m following interim close

Specialist alternative asset manager, Gresham House plc (Gresham House), has held the interim close of its British Strategic Investment Fund (BSIF) taking total commitments to GBP200 million.

The final close is expected in the first quarter of 2020.
 
Greater Manchester Pension Fund and Greater London Authority have made new commitments totally GBP35 million. Additionally, Greater Manchester Pension Fund has committed a further GBP20 million to a North-West co-investment portfolio. The LPs join Royal County of Berkshire Pension Fund and Teesside Pension Fund.
 
The UK Government has identified UK housing and infrastructure as being structurally important areas requiring local investment and the BSIF platform offers investors flexibility to access either or both segments, alongside the potential regional and co-investment opportunities. As well as seeking risk-adjusted returns, BSIF is committed to sustainable investment forms.
 
To date, BSIF has made six investments, deploying 41 per cent of available capital from the initial close plus significant additional transaction commitments. Investments include renewable energy, vertical farming, waste recycling and key worker accommodation.
 
Tony Dalwood, CEO of Gresham House plc and BSIF Investment Committee member, says: “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. We are excited to welcome two further, and highly-respected, institutional investors.”
 
Luke Webster, the GLA’s CIO and Managing Director of the GLA’s asset management company, London Treasury Limited, says: “We are delighted to add this diversifying investment to the London Strategic Reserve portfolio. and look 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.”

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