The London-listed asset manager logged a healthy first-half and said it was in the process of reviewing acquisition opportunities.

The UK's Gresham House swung into a pre-tax profit of £52,000 ($79,500) in the first half of 2015, compared to the £2.5 million loss it recorded in the corresponding period of last year.

As its cash balance reached £10.7 million at the end of June, the company's earnings per share of 0.8 pence compared to a loss of 51.9 pence a year ago.

Gresham also revealed it had netted £7.25 million from a property disposal, relating to its site at Newton-le-Willows, and was now targeting acquisition opportunities within areas of specialist asset management.

Earlier this week, the company appointed Rupert Robinson, formerly chief executive of Schroders Private Bank, as managing director of its asset management business. Gresham House Asset Management was established this year and secured its first investment advisory mandate for SPARK Ventures within its strategic equity division in August.

“The first six months of this year has seen solid progress and this momentum has continued into the second half with the further strengthening of our team through the appointment of Rupert Robinson and winning the investment advisory mandate for SPARK. This mandate is an important step as the business evolves as a specialist asset manager focused on growing AuM and earnings,” said Gresham House's chief executive, Tony Dalwood.

“The investment committee is reviewing acquisition opportunities within areas of specialist asset management that we are excited about and should create long-term shareholder value.”

In December 2014, a new management team took the helm looking to establish Gresham House as a specialist asset management group focused on managing funds and co-investments across a range of differentiated and illiquid alternative investment strategies.