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Gresham House To Acquire Livingbridge VC Fund Management Business

LONDON (Alliance News) – Alternative asset manager Gresham House PLC said on Thursday it will acquire the fund and investment management businesses of Livingbridge VC LLP for up to GBP40 million.

Livingbridge manages GBP500 million of equities, through Baronsmead Venture Trust PLC and Baronsmead Second Venture Trust PLC, as well as two open ended investment companies.

The acquisition will be funded through the allotment of 1.6 million shares to Livingbridge VC, a new credit facility, and a placing of 2.6 million shares at a price of 448 pence per share, raising GBP11.7 million

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