Gresham House, a boutique fund manager led by Schroder Ventures founder Tony Dalwood, has negotiated a deal to buy a specialist investor in the power sector, as part of a drive to boost investments in the real economy.

Gresham said on May 19 it will acquire a £100m energy and infrastructure fund manager, Hazel Capital, for an undisclosed sum. Hazel invests chiefly in the energy sector in the UK, including renewables. Its expertise may help Gresham deploy cash from its planned "British Strategic Investment Fund".