Gresham House, a £2.5bn listed fund manager focused on alternatives, has reshuffled its smaller-companies investment team following a joint venture and acquisition over the past year. Director Graham Bird is stepping back in favour of a new arrival.

Bird, currently managing director of Gresham’s strategic public equity business — which takes stakes in smaller companies — is “stepping back from frontline activity” and will focus on advising investee companies and taking board roles, the company said in a November 26 statement.