Gravis Advisory Limited (GAL), a subsidiary of Gravis Capital Management, has partnered with Manchester-based Racefields, led by founder David Gammond and Phil Woolas, former Labour MP and Minister of State for Local Government.
Gammond and Woolas will work together to bring the four funds advised by Gravis Advisory Limited to local government pension schemes and large pension funds. GAL funds seek to offer investors access to listed companies which own physical assets that generate reliable and predictable income, coupled with low volatility. Of particular interest are the VT Gravis Clean Energy Income Fund, the VT Gravis UK Listed Property (PAIF) Fund and the VT Gravis Digital Infrastructure Income Fund, all of which invest in companies with long dated contractual cashflows in the UK and developed markets around the world.
Woolas is a founding partner of Wellington Street Partners Ltd, the UK’s only tri-partite political advisory company. He is a former Member of Parliament and served as Minister of State for Local Government under PM Tony Blair. He has 35 years’ experience of Local Government policy and finances including as a representative of municipal workers and as the Minister responsible for the LGPS. Since 2010, his company has worked with numerous investment funds and local authorities and their pension funds.
David Gammond has worked in technology for over 40 years and in corporate finance for 30 of those; he is CEO of Racefields, a private investment house providing financial and other resources to support tech projects and companies. Among other roles, he has previously worked for Norsk Data, an Oslo-based innovative computer manufacturer, which has developed some of the world’s leading technologies in data storage, communications, AI and data capture.
Today Gammond has interests in renewable energy, digital infrastructure, artificial intelligence and the electrification of transport along with fund raising for tech projects and companies. He has worked with both investors and business owners gaining a perspective from each side.
Welcoming the new initiative from Gravis, Woolas, consultant at Racefields, says: “The investment philosophy of Gravis, across their funds, in my view, matches the policies and needs of Local Government Pension Funds and their members: steady, long-term and liquid. The approach of Gravis and their investment criteria along with their track record, makes them a very useful addition to the LGPF toolkit”.
Gammond says: “I am delighted to be working with the team at Gravis. Their core investment philosophy which is based around capital preservation and regular income makes perfect sense in today’s uncertain economy. I am particularly excited about their VT Gravis Digital Infrastructure Income Fund which identifies the investment opportunities to be found in physical assets such as communication towers and data centres. I am expecting considerable interest in this and their other investment products from pension funds and other institutional investors”.
William MacLeod, Managing Director of Gravis Advisory Limited, says: “We are thrilled to be working with David and Phil. They have a unique understanding of the local government pension fund landscape and we believe our partnership will bring the expertise of the Gravis Advisory funds to a new and dynamic market.”
