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QuotedData’s morning briefing 10 November 2022

In QuotedData’s morning briefing 10 November 2022:

  • JZ Capital Partners (JZCP) is clawing its way back to normality, reporting an NAV at 31 August 2022 of $4.71, up from $4.29 at 28 February 2022, and a much less problematic debt burden – now just reduced to a $45.0m Senior Term Loan Facility due 26 January 2027 and $31.5m of Subordinated Notes due 30 September 2023 under a facility made available by affiliates of Jay Jordan and David Zalaznick (the managers and large shareholders in the company – it would still be nice to see this gone).
  • Apax IX Fund has sold its entire stake in  Kepro, a leading provider of tech-enabled solutions to government-sponsored healthcare programs. The transaction values Apax Global Alpha’s look-through stake at approximately €20.6m, an uplift of about €0.8m to the trust’s NAV.

We also have news of a new manager for Majedie, and results from Schroder Income Growth

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