(Alliance News) - Gravis Capital Management Ltd on Friday announced a strategic partnership with diversified financial services group Orix Corp, in which Orix will pick up a 70% interest in Gravis for an undisclosed sum.
The deal is expects to allow Gravis to grow its franchise start expanding its investment platform into Europe to meet demand for private asset investments. For Orix, the deal will allow the firm to expand operations into the UK infrastructure, debt, renewable energy and property sectors.
The deal is expected to close in the first quarter of 2021, subject to regulatory approval.
The announcement was noted by GCP Infrastructure Investments Ltd, GCP Asset Backed Income Fund Ltd and student accommodation investor GCP Student Living PLC. All three companies said they had been reassured that there would be no changes to the team providing services to them.
"We are very excited about our strategic partnership with Orix. It offers us the very attractive combination of support to expand our capabilities, while preserving our business focus, organisational structure and investment culture providing long-term stability for our investors,
business partners and employees," said Rollo Wright.
Shares in GCP Infrastructure Investments were flat at 110.60 pence on Friday in London, GCP Student Living was flat at 143.80p, and GCP Asset Backed Income was down 0.9% at 91.99p.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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