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QuotedData’s morning briefing 26 July 2022

In QuotedData’s morning briefing 26 July 2022:

  • The Allianz technology team has moved en masse across to Voya Financial and it is now the investment adviser to Allianz Technology (ATT). The board is confident that there will be minimal impact on the management of the portfolio, It is anticipated that there will be no change to the investment process. Mike Seidenberg, who has been a member of the team since 2009 and who assumed the role of lead portfolio manager from Walter Price earlier this year, has assured the board  of his commitment to the team for the foreseeable future. Allianz Global Investors GmbH, UK Branch continues to be the AIFM and will also continue to provide administrative and company secretarial services to the company. There is no change to the fee.
  • Apax X, which Apax Global Alpha has a stake in is buying the Australian auction marketplace Pickles Auctions. On a look through basis, Apax Global Alpha’s exposure will be about £11m. Privately owned since 1964, Pickles is one of Australia’s leading marketplaces for transport, construction, mining, aviation, vehicles, general goods and salvage assets. The company offers thousands of assets each week across about 150 auctions a month, and works with major clients including the Australian government, state governments, financial institutions, banks and not-for-profit organisations.
  • Custodian REIT (CREI) has acquired a 47,882 sq ft industrial facility let to Container Components Limited with 20 years remaining on the lease for £3.5m. The property produces an index-linked passing rent of £227,440 per annum, reflecting a net initial yield of 6.1%, and is located two miles from junction 29 of the M1 near Chesterfield, Derbyshire. The acquisition was funded from the company’s existing debt facilities, increasing its loan to value to 23.8%, which remains within the company’s target range.

We also have results from MIGO Opportunities and Gore Street Energy Storage

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