In QuotedData’s morning briefing 4 April 2022:
- Following the announcement in October 2021 that it plans to become a self-managed trust, the board of EP Global Opportunities (EPG) has agreed to an interim transfer of the company’s investment management responsibilities pending approval to become its own AIFM, which it hopes will be granted in a few months. Therefore, with effect from 1 April 2022, the company’s delegated investment management function has transferred from Edinburgh Partners Limited to Franklin Templeton Investment Management. Dr Nairn continues to act as EPG’s portfolio manager. FTIML’s appointment is in substitution for, and on materially the same commercial terms, as the existing delegated investment management agreement with EPL.
- JPEL Private Equity (JPEL) has resolved to return a total of $18m to JPEL US$ equity shareholders. Redemption proceeds will be comprised of existing cash on JPEL’s balance sheet. It will be by way of a pro rata compulsory redemption of US$ equity shares at a price equal to the prevailing NAV per US$ equity share of $1.85 as at 31 December 2021. Payments of redemption proceeds are expected to be effected either through CREST or by cheque on or around 21 April 2022.
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Pantheon Infrastructure (PINT) has invested $30m in US wireless communication infrastructure operator Vertical Bridge, through a co-investment vehicle managed by DigitalBridge Group, a global digital infrastructure investor. Vertical Bridge is the largest private owner and operator of tower and wireless communication infrastructure in the US, with a portfolio of more than 8,000 towers and 300,000 total sites. Its portfolio, which spreads across all 50 states and in Puerto Rico, includes towers, rooftops, billboards, utility attachments and other locations that support wireless network connectivity. The company is certified as carbon neutral, becoming in 2020 the world’s first tower company to achieve net-zero emissions. Richard Sem, Partner at Pantheon Ventures, PINT’s investment manager, said: “We are pleased to have made an investment in a sector that is experiencing such strong tailwinds, and alongside a sponsor in DigitalBridge with an excellent track record investing in this space.”
We also have final results from Schroder Asian Total Return and a placing proposal from HydrogenOne Capital.