Gresham House
Specialist asset management
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Gresham House Monthly Monitor – April 2026
Emerging markets have quietly reasserted themselves
Following the drawdown triggered by the escalation of conflict in the Middle East, EM equities have recovered strongly, with the MSCI Emerging Markets Index now approaching prior highs. While this resilience may appear surprising given geopolitical and energy sensitivities, it is important to recognise how difficult this asset class has been historically.
Gresham House to acquire a majority interest in US-based Molpus Woodlands Group to form top three global timberland investment Manager
Gresham House to acquire a majority interest in US-based Molpus Woodlands Group to form top three global Timberland Investment Manager
Gresham House Commercial Property Monthly Monitor – March 2026
Irish commercial property continues to show clear signs of recovery as we move through early 2026, supported by a resilient economic backdrop.
Precious Metals: Valuation and Tactical Rotation
We have held gold in our multi-asset portfolio for many years despite not being “gold bugs” by any means. Our logic for holding gold was based on economic history. We view gold as insurance and as a store of value when confidence in fiat currencies and financial engineering wavers or collapses.
Gresham House completes SUSI Partners acquisition to establish a £2.7bn (€3.1bn) energy transition platform
Gresham House announces that it has completed its acquisition of SUSI Partners AG, the Swiss-headquartered energy transition infrastructure investment manager, after securing all required approvals, taking combined assets under management (AUM) to £10.7 billion (€12.2 billion).
2026 Outlook: An AI bubble – but still plenty to buy
Is an AI bubble starting to form? Derek Heffernan explores where risks are building – and how selective diversification can uncover attractive opportunities.
Irish commercial property market continues to gather momentum
We explore how a resilient economy, steady interest rates, and renewed investor appetite are driving growth across office, retail, and industrial markets.
Where we see value
Discover global equity opportunities in Emerging Markets, Developed Markets ex-US, and deep-value US stocks, balancing risk with long-term growth.
Gresham House to acquire SUSI Partners, creating a top-ten European energy transition platform
We are pleased to have announced that Gresham House and the shareholders of SUSI Partners AG have entered into a definitive agreement under which Gresham House Holdings Limited will acquire SUSI Partners AG.
Half year reflections: building resilience, capturing global opportunities
For the latest in his series of interviews with members of the senior Gresham House team, Tony Dalwood talks to Rupert Robinson
What could derail the fiscal-induced high?
In the August 2025 monthly monitor, Gresham House Ireland reviews the risks of AI overinvestment and rising US tariffs, alongside reasons for continued equity market optimism. Discover how supportive fiscal policy, low oil prices and attractive valuations are shaping investment opportunities.
Clontarf Claims 2025 Gresham House U17 Girls Cup Victory
Clontarf Cricket Club secured the 2025 Gresham House U17 Girls Cup at Sydney Parade, advancing to the All-Ireland competition after a strong team performance.
Merrion Triumph in Gresham House U17 Boys Cup
Gresham House Ireland proudly supported the 2024 U17 Boys Cup, where Merrion Cricket Club claimed victory at Park Avenue, Dublin. The tournament highlights our commitment to youth cricket, grassroots sport, and community investment across Ireland.
Market update – July 2025
Explore the factors influencing the US Dollar’s trajectory, including Washington’s policy mix, fiscal deficit, and potential short-term catalysts for outperformance. Stay informed with insights from Senior Investment Analyst Kudakwashe Damba.
US Dollar weakness: can the Greenback make a comeback?
Explore the factors influencing the US Dollar’s trajectory, including Washington’s policy mix, fiscal deficit, and potential short-term catalysts for outperformance. Stay informed with insights from Senior Investment Analyst Kudakwashe Damba.
Global Timber Outlook 2025
Explore how climate change is reshaping timber markets. Discover rising demand, limited supply, and timber’s role in portfolio diversification. Request your copy of the Gresham House Global Timber Outlook 2025.
Will European Banks continue to perform?
European banks are outperforming major tech stocks, yet still trade at deep discounts. Explore why improving fundamentals and rising loan growth make this sector a hidden gem for investors.
Gresham House Annual Review 2024
Our Gresham House Annual Review for the year ended 31 December 2024 is now available.
Tariff reaction – a new world is emerging
Discover how Trump’s tariffs impact global trade, US prices, and market volatility in 2025, leading to higher costs and economic uncertainty.
Irish commercial real estate market update
In this instalment of the Monthly Monitor, the team discuss the promising market outlook for commercial property sector in Ireland.
Update and outlook Rupert Robinson joins Tony Dalwood
For the latest in his series of interviews with members of the senior Gresham House team, Tony Dalwood talks to Rupert Robinson
Gresham House Ireland scales up its Real Estate executive team
We are pleased to announce several changes to our Real Estate senior management structure as we prepare for the next wave of growth.
2025 outlook – avoiding the punch
In this instalment of the Monthly Monitor, the team discuss PIIGS and the attractive investment opportunity they could offer.
Buy the PIIGS
In this instalment of the Monthly Monitor, the team discuss PIIGS and the attractive investment opportunity they could offer.
The changing pensions landscape
In this instalment of the Monthly Monitor, Kathryn Hannon, Head of Private Clients, discusses the changes with Alan Ryan from Paul Ryan Pension & FInancial Consultants.
The use of timber in construction
Decarbonisation is a global megatrend which is influencing the materials used in construction. Rather than concrete or steel, timber is increasingly being used in buildings, reducing the carbon footprint, cost and construction time of new developments.
Gresham House aims to significantly grow its business in Ireland
Our CEO, Tony Dalwood, has announced plans to significantly grow our operations in Ireland over the coming five years.
The bright future of small caps
Small caps are starting to shine, and we expect their radiance will continue to illuminate the market for a while.
Webinar – Great expectations – 2024 and beyond
Derek Heffernan and Kathryn Hannon take a look at the macro-economic backdrop and provide an update on the market outlook.
The turn of the commerical property cycle could be in sight
The recent decision by the European Central Bank to reduce interest rates may mark the turning point in the property market cycle.
Calling the next bull market
After a decade of US outperformance, investors are rebalancing away from the region and into areas that have been capital starved and are primed for the coming bull market.
Gresham House Sustainable Investment Report 2024
We are pleased to share our fourth annual Sustainable Investment report, covering our range of initiatives and commitments.
Gresham House Annual Review 2023
We are pleased to announce a transformational year in 2023, delivering strong financial returns for clients and a growing suite of sustainable investment solutions.
Gold – a new bull market?
Gold investors are usually left behind in a market where equities are also strong, however that is not the case this time.
Forestry and natural capital
Why we think sustainable productive forestry should form the basis of a natural capital portfolio.
Commercial property in a downturn
The Irish commercial property market is undergoing a cyclical downturn. However, this downturn is not confined to the Ireland with CBRE reporting difficult investment markets around Europe.
Investing in nature
New research on nature funds highlights the need for increased funding into effective nature-based solutions (NbS) to tackle climate change.
The US and downside risks
We analyse every investment we make through a ‘survive then thrive’ framework. This involves looking at risk before potential reward.
Webinar – 2024 outlook: Life after the hikes
In this webinar, Kuda Damba, Kathryn Hannon and Derek Heffernan outline the key macroeconomic trends and investment opportunities in 2024.
AI content series
Our AI content series will involve several conversations with CEOs across our portfolio companies, discussing how they are embracing AI technology.
Searchlight’s acquisition of Gresham House plc
We are delighted to announce that the acquisition of Gresham House by Searchlight Capital Partners is complete.
The resilience of the US residential property market in 2023
At the start of 2023, there were serious concerns about the US residential housing market and its potential to cause a recession. If investors had foreseen the most aggressive Central Bank monetary tightening in history, there is no doubt that a serious crash would have been expected, but it hasn’t materialised.
Gresham House extends Irish presence with new €65mn vehicle to invest in growth businesses
Gresham House has launched a new €65 million (stg£60 million) Irish-registered investment vehicle.
Higher real yields – short-term pain for long-term gains?
Real yields have garnered attention recently after experiencing a significant rise, returning them to normal historical levels.
Gresham House Forest Growth & Sustainability LP raises £300mn
Gresham House Forest Growth & Sustainability LP raises £300mn
Higher for longer?
The negative narrative in the UK is well-worn however, there are areas of positivity within the UK economy.
Overlooked & undervalued webinar
Join Kathryn Hannon, John Mattimoe and Derek Heffernan as they explore opportunities in today’s market.
The UK – Lost cause or great opportunity?
The negative narrative in the UK is well-worn however, there are areas of positivity within the UK economy.
Gresham House appoints new Head of Asset Management for Housing
Gresham House has appointed Chris Carter Keall as Head of Asset Management, Housing.
Gresham House bolsters Sustainable Infrastructure team
Gresham House bolsters Sustainable Infrastructure team with three new appointments
Why we still love dividends
Over the long-term, dividends provide the majority of returns. The starting dividend yield is the most consistent contributor to equity returns.
Valuation matters – The case of Nvidia
The share price of Nvidia Corporation, the US multinational technology company has dramatically increased recently.
Natural capital & biodiversity – where are UK asset owners on their journey?
Commissioned report on biodiversity and natural capital with Pensions for Purpose
Taking advantage of rising interest rates through short-dated bonds
Although central banks have increased interest rates meaningfully, depositors are yet to see the full benefits reflected in the rates domestic banks are offering.
Positioning for a recession webinar
Join Kathryn Hannon, John Mattimoe and Derek Heffernan as they discuss the prospect of a ‘Recession’ or a ‘recession’, consider how equities outside of the US remain at attractive valuations, allowing for buying opportunities, and what this all means for the positioning of our suite of funds in Ireland.
Tony Dalwood interviews… Peter Bachmann, Sustainable Infrastructure
The latest in Tony’s series of interviews
Forestry CIO newsletter
Our new CIO newsletter, covers all you need to know about the current environment in global forestry investment.
Homing in on the property market
The deterioration in the international economic environment during 2022 has created a level of uncertainty for investors and occupiers in the Irish commercial property market.
Ireland as a forestry destination
An introduction to the profile of Ireland as a destination for forestry investment
Gresham House plc Annual Results 2022
We are pleased to announce another year of growth, organically and through acquisitions.
An equity rally – time to be discerning
Equity markets have rallied strongly over the first two months of 2023. Many stocks which sold off in 2022 have been in the vanguard of this rally.
Minimal exposure to Silicon Valley Bank
Update on impact of SVB failure.
Tony Dalwood interviews… Olly Hughes
In the latest in our CEO interview series, Tony catches up with Managing Director, Olly Hughes.
Not all of Europe is equal
We have been ‘overweight’ in European equities versus US equities for a number of years, as our bottom-up process has consistently identified greater value in European markets.
2023 outlook webinar
With negative overriding feeling within markets but a sense that a recession has already been priced in, we take a look back at 2022 and delve into what’s to come in 2023.
Pre-close trading update – January 2023
Gresham House announces pre-close trading update for the 12-month period to 31 December 2022
Tony Dalwood interviews… Rupert Robinson
In the latest in our CEO interview series, Tony catches up with Managing Director, Rupert Robinson.
Taking a look back at 2022 – and what’s to come in 2023
The recent strong performance of value stocks over their glamour counterparts has investors concerned that they may have missed the value opportunity.
Gresham House launches Irish forestry fund strategy with Coillte and ISIF
Gresham House launches a major new strategy to fund greater forest cover in Ireland
The value rally is only starting to warm up
The recent strong performance of value stocks over their glamour counterparts has investors concerned that they may have missed the value opportunity.
Is it time to buy equities?
There is a lot going on in equity markets today, so answering the question whether it’s time to buy equities is not straightforward.
Gresham House Capital Markets Day 2022
We hosted our second annual Capital Markets Day on Wednesday 9 November, providing an update on GH25 progress and insights into the business
Gresham House Global Small Company Fund update webinar
Join Senior Client Relationship Manager, Ian Naughton and Fund Manager, John Mattimoe, as they discuss the current economic environment, review the valuation of the Small Cap sector, and update on performance of the Fund.
Putting sustainable forest management into practice
A short case study on why we created our Forest Charter
Is it safe to buy bonds?
Whilst most investors are fully aware that equity markets have been disappointing in 2022, what is less reported is the dramatic losses in the perceived haven of government bond markets.
2022: Transition year webinar
A look at how 2022 is a year of transition and uncertainty around the changes in the market.
Has the crescendo of fear brought the US Dollar to a peak?
The last year has seen considerable negativity across many asset classes. Bond markets have fallen into their first bear market in a generation, and equity markets are still in negative territory as the reality of a slowing global economy and rising interest rates takes its toll.
Gresham House plc Interim Results 2022
Gresham House plc announces its unaudited 2022 Interim Results
Gresham House remains a signatory to the UK Stewardship Code
Gresham House meets the expected standard of reporting for 2021 and remains a signatory
Commodities – is cyclical weakness masking a structural opportunity?
Commodities were the hot topic at the start of this year as investors viewed them as a hedge against inflation.
Forestry resilience in turbulent markets
Francis Ireland discusses why investors are turning to Forestry in difficult times
Uncertainty has caused the third greatest derating of equities
The first half of 2022 has proved an extremely negative period for global equity markets. The sell-off of the last six months has been exceptional and has only been surpassed during periods of extreme market stress, recalling events in 1974, the TMT crash of 2000, the global financial crisis (GFC) and the European sovereign crisis.
Back to the 1970s? webinar
Gresham House plc business update
Gresham House plc announces its H1 trading update
Tony Dalwood interviews… Heather Fleming, Institutional Business
Chief Executive Tony Dalwood speaks with Heather Fleming
The future for multi-asset funds
Multi-asset investing has been one of the fastest growing asset categories over the last twenty years. From 2003 to 2018, the industry increased globally more than five-fold, from $2tn to $11tn, also increasing its market share of worldwide assets under management from 6% to 14%.
Is it time for equities to climb the wall of worry?
2022 has seen the global equity market engulfed in negativity. Rising bond yields, stagflation, increasing recession fears, war in Europe, another COVID-induced shutdown in China and the Central Bank tightening to tackle inflation are among the factors causing the negative backdrop for equities today.
The implications of rising bond yields
The investment story of 2022 so far has been rising bond yields, due to inflation returning with a vengeance.
Sustainable Investment Report 2022
Gresham House publishes its second Sustainable Investment Report
Gresham House plc business update
Gresham House announces continued positive fundraising momentum
Gresham House plc Annual Results 2021
Gresham House plc is pleased to announce a year of significant growth, both organically and through acquisitions
Gresham House buys Burlington Real Estate for €1.8mn – 15 March 2022
Our response to the crisis in Ukraine
A statement from Gresham House regarding the Russian invasion of Ukraine
Tony Dalwood interviews… Forestry
Chief Executive, Tony Dalwood interviews Olly Hughes, Managing Director of our Forestry business
Finding safety in trees
Francis Ireland writes on why forestry could be a safe haven for investors in times of increasing inflation
A bear market or just a rotation into value?
2022 is already proving to be a rude awakening for investors that believed the benign environment of 2021 was set to continue.
UK’s first home to guarantee zero energy bills
First-of-its-kind home will use low-carbon and battery technologies to provide new owners with free heating, hot water, and electricity
Is 2022 going to be the same as 2021?
2021 ended very positively for the Gresham House Ireland Equity and Multi-Asset funds and all enjoyed a very strong year.
What impact could COP26 have on forestry investments?
There were many pledges made at the recent COP26 summit in Glasgow, some of which could have an impact on forestry investments.
Gresham House bolsters Housing division with two senior hires
Gresham House, the specialist alternative asset manager, has strengthened its growing Housing division with two senior hires – Narvinder Khossa as Head of Origination and Brandon Holloway as Deputy Fund Manager.
Implications of COP26 for Alternative Asset Managers
Sustainable Investment Manager, Jonathan Walker discusses the implications of COP26 for alternative asset managers.
Gresham House Capital Markets Day
We hosted our inaugural Capital Markets Day on Thursday 4 November, providing an update on GH25 progress and insights into the business
Do US lumber futures show the way?
Analyst Francis Ireland looks into how US lumber futures could show the path for forestry investments
COP26 – Q&A with Rebecca Craddock-Taylor and Peter Bachmann
Rebecca Craddock-Taylor and Peter Bachmann discuss their ideal outcomes for COP26
Niall Dineen speaks to Newstalk’s Vincent Wall – 6th October 2021
How to grow the UK’s timber industry
Timber price increases this year underline the arguments for planting more productive conifers, says Anthony Crosbie Dawson
Gresham House acquires Mobeus VCT business
Gresham House agrees to acquire the VCT business of Mobeus Equity Partners
Gresham House strengthens top-performing Strategic Equity team
Gresham House bolsters Strategic Equity team with appointments of Amber Stone-Brown and Cassie Herlihy
Patrick Lawless on RTE’s Morning Ireland – 10th August 2021
Patrick Lawless in the Sunday Times – 8th August 2021
Gresham House secures Australian forestry mandate
Gresham House announces appointment as asset manager for 24,800-hectare Australian forestry investment
Gresham House continues on growth path with new Head of Wholesale Retail Funds
Gresham House hires Chris Elliott as the business looks to further strengthen its reach among UK discretionary and advisory investors.
Gresham House announces new UK Housing division Finance Director
Gresham House appoints Diane Abeyawickrama as Finance Director of its growing Housing division.
TradeRisks advises Gresham House Wind Energy LP on £62m wind farm refinance
TradeRisks advises Gresham House Wind Energy LP on a refinance of its Harburnhead wind farm.
Why higher carbon prices should drive returns from forestry
Forestry as an asset class is well-placed to benefit with carbon prices on the verge of a dramatic increase
Net zero – the great decarbonisation opportunity
Peter Bachmann presents the key note at the IPE Real Assets & Infrastructure Global Investor Conference
Olly Hughes talks all things forestry with the Money Maze Podcast
Managing Director, Forestry Olly Hughes joins the Money Maze Podcast to examine forestry as an asset class.
Gresham House strengthens Institutional Business team
Gresham House plc, the specialist alternative asset manager, has appointed James Lindsay as Head of Institutional Business.
Gresham House launches its first Sustainable Investment Report
Gresham House releases its first Sustainable Investment Report, setting out in detail our progress and commitments to sustainability
Gresham House plc Annual Results 2020
We announced another year of strong growth, both organically and through acquisition, with Assets Under Management (AUM) increasing by 42% to £4.0 billion, and significant increases to revenue and adjusted operating profit.
International Women’s Day 2021
This International Women’s Day we celebrate the brilliant women who have helped build Gresham House to the success story it is today
Niall Dineen on Newstalk Breakfast Business with Vincent Wall – 17th February 2021
Are UK timber prices set to rise in 2021?
Anthony Crosbie Dawson looks into why increasing US imports of timber will benefit the UK’s timber producers
Press Release: Gresham House expands Energy Transition senior team
Peter Bolton hired to lead the development of Gresham House’s unsubsidised renewables strategy.
Gresham House acquires Appian Asset Management Limited
Based in Dublin, Appian is an active asset manager with c. €330m AUM, investing globally across traditional and alternative assets.
Into the woods: forestry shows its resilience – Olly Hughes
Managing Director, Forestry, Olly Hughes explains how UK forestry has provided investors with a source of shelter amid the COVID-19 storm.
Webinar: Gresham House plc – Interim Results
Tony Dalwood and Kevin Acton provide an update on Gresham House plc’s performance in the year to date and outlook for the rest of the year and beyond.
Gresham House achieves top scores in PRI Assessment Report 2020
Gresham House achieves top scores in their PRI (Principles for Responsible Investment) assessment report for 2020 – our first assessment.
Niall Dineen on RTE’s Morning Ireland – 21st July 2020
Press Release: Gresham House appoints Sustainable Investment Director
Gresham House further enhances sustainable investment focus through appointment of Rebecca Craddock-Taylor as Director, Sustainable Investment
Press Release: Gresham House appoints Peter Bachmann
Gresham House expands its specialist investment team with the hire of sustainability infrastructure expert, Peter Bachmann.
Report: Global Timber Outlook
In this detailed report, Gresham House looks at the drivers behind global timber consumption, which we believe will result in increasing timber prices and therefore also forestry asset values.
Webinar: ESG Investing – Sustainable Real Assets
The Gresham House plc team reinforce the importance of real assets in an ESG portfolio, providing insight into our sustainability policy.
Press Release: Gresham House appoints David Gardner
Gresham House announces the appointment of David Gardner as Investment Director within its Forestry division, responsible primarily for leading the international expansion of the business
Webinar: Gresham House plc – Investor update
Tony Dalwood and his senior management team will share successes from the past five years and our strategy through the next five
Niall Dineen on Newstalk Breakfast Business with Vincent Wall – 19th March 2020
Maybe there is a magic money tree after all
In the current low-yield environment, investors are increasingly looking to alternative asset classes in order to try to enhance returns. Olly Hughes discusses the Forestry imperative
Niall Dineen appeared on RTE Morning Ireland – 2nd February 2020
Video: 2019 in review
CEO, Tony Dalwood discusses the year and what lies ahead for the team in 2020 and beyond.
Forestry Teach-In
Speakers from Gresham House, Preqin and PRI discuss the commercial Forestry opportunity
Niall Dineen on Newstalk Breakfast Business – 8th January 2020
Gresham House invests in bio-bean
Gresham House is pleased to announce it has made a new investment of £1.2m into bio-bean, the world’s largest waste coffee grounds recycler.
The Big Picture conference – Bringing re-wilding to life
The Big Picture Conference explored the potential for re-wilding large parts of Scotland, with inspirational stories and experiences from around the world presented by practitioners, policymakers and storytellers.
Niall Dineen on Newstalk Breakfast Business – 20th September 2019
Gresham House receives top award at Royal Highland Show
Gresham House picked up the top award for the Best New Commercial Woodland at the 2019 Scotland’s Finest Woods Awards
Sowing seeds for timber skyscrapers
Research from the University of Cambridge demonstrate advances in the development of sustainable housing and infrastructure, supporting the investment case for this asset class.
Gresham House buys two areas of woodland from Hargreaves Land
From Hargreaves Land, the land is situated at Glentaggart near Glespin in South Lanarkshire, joins Gresham House’s extensive tax-efficient commercial portfolio, providing around 10% of the UK’s annual softwood harvest.
Niall Dineen on Morning Ireland – 7th June 2019
The future is wood
A recent article from New Scientist, “Our wooden future: making cars, skyscrapers and even lasers from wood”, talks about wood being processed into a super-material with extraordinary properties.
Gresham House plc AGM statement
Non-Executive Chairman, Anthony Townsend releases statement prior to Gresham House plc AGM, regarding progress with management plans in the first half of 2019 and our successful organic growth.
Samee Khan appointed as General Counsel
Samee joins Gresham House from ADIA, where he was responsible for establishing and then leading the legal and compliance function within its Private Equities Department.
UK breaks record for longest continuous period running without coal
The UK went coal free for more than 90 hours over the Easter weekend, breaking the previous record set In April 2018
Cathy Pitt joins Gresham House Energy Storage Fund plc Board as Non-Executive Director
Gresham House Energy Storage Fund plc (LSE: GRID) is pleased to announce the appointment of Cathy Pitt as a Non-Executive Director on the Board with effect from 1 March 2019.
Gresham House appoints Olly Hughes as Managing Director of Forestry
Niall Dineen on Newstalk January 4th 2019
Video: Why invest in Forestry?
Anthony Crosbie Dawson from Gresham House and Paul Atkinson from Par Equity discuss the merits of investing in Forestry and how experienced investors can benefit from investing in this sector.
Interview: Tony Dalwood speaks to Directors Talk regarding strong interim results
Gresham House acquiring FIM services
Gresham House’s proposed acquisition of FIM Services Ltd
Gresham House wins Alternative Investment Manager Award at the WealthBriefing Awards 2018
Interview: Gresham House ‘Very strong business with long-term contracts’
Gresham House CEO, Tony Dalwood caught up with DirectorsTalk for an exclusive interview to discuss our results for the year ended 31 December 2017
