9th Nov 2015 09:28
LONDON (Alliance News) - Gresham House PLC on Monday said its asset management subsidiary has won regulatory approval in the UK, paving the for it to become the investment manager of Gresham House Strategic PLC.
Gresham House Strategic, formerly known as Spark Ventures PLC, had been managed by Sapia Partners LLP on a temporary basis.
The UK's Financial Conduct Authority has approved Gresham House Asset Management Ltd to carry out designated investment management business, the company said.
"I am pleased that we have received FCA approval to provide investment management services. Securing authorisation for GHAM is an important step for Gresham House as we deliver on our plans to develop as a specialist asset manager of differentiated and illiquid alternative investment strategies that generate superior long term investment returns," Gresham House Chief Executive Anthony Dalwood said in a statement.
Neither stock had traded on Monday morning at the time of writing.
By Samuel Agini; [email protected]; @samuelagini
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