Searchlight Capital Partners is buying London-listed alternatives manager Gresham House in a £469.8m (€549m) take-private deal.

The $11.6bn (€10.7bn) private investment firm is offering Gresham House shareholders 1,105 pence for each share they hold, a 63% premium to the stock’s last closing price of 680 pence. 

The offer price gives Gresham House a £469.8m valuation on a fully diluted basis and a value of £440.6m on an enterprise value basis.

Gresham House directors said they intend to recommend that its shareholders vote in favour of a scheme at the court meeting and a resolution to approve the takeover.

Gresham House, which is listed on London Stock Exchange’s junior investment market AIM, manages approximately £8bn of assets on behalf of institutions, family offices, charities and endowments, private individuals and their advisers.

The specialist alternative asset management group is dedicated to sustainable investments across a range of strategies, with expertise across forestry, housing, sustainable infrastructure, renewable energy and battery storage, public and private equity.

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