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QuotedData’s morning briefing 26 August 2021

In QuotedData’s morning briefing 26 August 2021:

  • Stenprop (STP) has acquired Whitacre Industrial Park in Huddersfield and a portfolio of five MLI estates (the Duke Portfolio) across the UK, for a total consideration of £15.m. The combined purchase price reflects a net initial yield of 7.2% and a capital value of £64 per sq ft. Following these acquisitions, Stenprop’s MLI portfolio now totals in excess of 6.3 million square feet across 90 estates. Having recently completed the sale of Hermann Quartier shopping centre in Berlin, MLI now accounts for 83% of Stenprop’s total portfolio as it remains on target to be a fully focused MLI REIT by the end of this financial year. Will Lutton, head of investment, said: “We are confident that adding these MLI assets, in undersupplied regional locations, will enable us to significantly grow the rents over time through the application of our smart lease solution and management platform.”
  • Hg Capital (HGT) has made a new investment in Riskalyze, an industry-leading risk-centric wealth management platform serving financial advisors, enterprises, and asset managers, and Serrala, a fast-growing global financial automation and B2B payments software company. Terms of the deals are not disclosed. The transaction marks a major inflection point for Riskalyze, which supports tens of thousands of financial advisors who use it to manage millions of client accounts with over $400bn in assets. This will enable the business to continue to invest in its strategy to serve the advisor desktop, providing risk, portfolio analytics, proposal, trading and compliance solutions to advisors and wealth management enterprises. Riskalyze Co-Founder Aaron Klein will reinvest the majority of his holdings into the recapitalized firm, and continue to lead the company as CEO and a member of the board. He said: We are thrilled [to] have found the perfect partner to write this next chapter of our story.” Meanwhile, Serrala’s CEO Sven Lindemann and existing investor, Waterland, will continue to support the business and remain as significant minority shareholders in the business. Lindemann said: “Serrala’s innovative solutions are critical as businesses look to invest in automating their finance processes for both inbound and outbound payments. Building on our strong organic and inorganic growth, as well as our investments in cloud technology, we are proud to welcome Hg to the team for this chapter of our growth story. As a specialist software investor, with a track record of growing technology businesses, they will work alongside the Serrala team to take the business to the next level.

We also have an update from British Land on its new business model and strategy while Greencoat Renewables is holding an EGM.

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