Digital 9 Infrastructure (DGI9) has announced that it intends to serve a notice of termination to its current investment managers, Triple Point Investment Management, subject to the required consents. The board expects the termination to take effect on 31 March 2025. The board has chosen Liberum Capital as its financial adviser, in order to aid in the orderly wind-down of DGI9 and provide an independent review of the investment management arrangements. The review will include evaluating the options for DGI9, namely: continuing to be managed by Triple Point on different fee arrangements; managed by a new investment manager, or becoming a self-managed alternative investment fund.
Following completion of the Verne Transaction on 15 March 2024, DGI9 has now completed the previously announced £273.5m repayment and partial cancellation of its revolving credit facility. A further £20m will be repaid following receipt of a deferred consideration payment, while £23m will be put aside to account for any future tax-related liabilities.
The board intends to publish the unaudited results of its independent valuation later this week.