In QuotedData’s morning briefing 5 November 2021:
- Hg has announced an additional investment into Litera, that will result in HgCapital Trust (HGT) investing approximately £28.2 million in Litera, alongside other institutional clients of Hg. The latest transaction represents an uplift on HGT’s current investment in Litera of £48.0 million (68%) or 10.8 pence per share over the carrying value of £70.1 million in the Net Asset Value (“NAV”) of HGT at 31 August 2021 NAV. Based on the 31 August 2021 reported NAV, the pro-forma NAV of the Trust is expected to be £1.73 billion (or 388.5 pence per share). HGT’s liquid resources available for future deployment (including all announced transactions, and equity raised via tap issuance) are estimated to be £251 million (14% of the 31 August 2021 pro-forma NAV of £1.73 billion). The investment will reduce HGT’s outstanding commitments to invest in Hg transactions to approximately £476 million (28% of the 31 August 2021 pro-forma NAV).
We also have BlackRock Greater Europe’s annual results (strong performance has led to share issuance, according to its chairman Eric Sanderson), an update on Gresham House Strategic’s requisition request (the trust is to be put into run-off, with Harwood Capital managing the wind down), Urban Logistic’s acquisition of three assets, Industrials REIT’s acquisition of three assets and the results of Harmony Energy Income Trust’s IPO.