The board of residential Secure Income (RESI) notes that Gresham House and Thriving Investments have launched a new partnership to create a dedicated shared ownership and affordable housing fund management platform in the UK, as separately announced this morning.

This partnership is focused on the management of the private fund Gresham House Residential Secure Income LP. Under these arrangements, Ben Fry and a number of the existing housing team at Gresham House will transfer to Thriving Investments, effective immediately. Ben will continue to serve in his role as lead fund manager for ReSI plc under secondment to Gresham House for an initial term of nine months from today.

Certain asset management services focused on ReSI Housing Limited, the company’s wholly-owned Registered Provider of Social Housing, which owns the Company’s shared ownership portfolio, will be provided by Thriving Investments. The balance of fund management services for ReSI plc, along with asset management of ReSI plc’s retirement portfolio, will continue to be provided directly by Gresham House.

Notably, as a result of these new arrangements, there will be no change to fund management fees due to Gresham House or its fund management responsibilities, no impact on residents, no change to the existing portfolio, and no change to the status of ReSI Housing Limited. 

The board expects to send a circular to shareholders in connection with the previously announced proposal for a managed realisation strategy and return of capital to shareholders within the next few weeks.

RESI : RESI announces managers shift to Thriving Investments