Primary Health Properties (PHP) has confirmed reports that it is in advanced talks with an investor regarding using its private hospital portfolio to seed a new joint venture. “As previously announced, PHP has been exploring a range of strategic options to enhance the long-term value of the private hospital portfolio, including potential joint venture arrangements with highly credible investors.”
Chenavari Toro Income (TORO), the £170m, 13%-yielding debt fund, has reported a 13.1% investment loss for the half year to 31 March. With dividends reinvested, shareholders saw a 19.4% loss as leveraged loan prices tumbled in the first quarter of the year amid the broad market sell-off triggered by the Iran war. The previous fourth quarter of 2025 “saw continued bifurcation in the European leveraged loan market between performing and underperforming credits, with idiosyncratic weakness concentrated in the lower end of the credit spectrum”.
RM Infrastructure Income (RMII) is to lift its equity stake in gym group Energie Fitness to over 98% and lend a further £3m to the company after it completed a reorganisation that avoids a costly pre-pack administration. RMII, a £30.6m investment company in the process of winding down, will retain its existing £12m senior secured loans currently valued at around £7m. It has agreed to an equity incentive scheme that would see EF’s management awarded with options of up to 25% of shares if RMII’s loans and accrued interest are paid in full.
NB Private Equity (NBPE) has invested $25m in an undisclosed technology company, lifting its new commitments to $104m this year after selling a similar amount from its stake in broker dealer Osaic, which reduced its holding by 40% to leave it with $42m invested. Having previously announced a further $120m for share buybacks, NBPE bought back 341,000 shares last month at an average discount of 32%. The £603m company said net asset value slipped 0.7% last month with NAV per share of $27.22 (£20.19) at 31 May.
Aberdeen Equity Income (AEI) has agreed a new £30m three-year revolving credit facility (RCF) with the Bank of China to replace its expiring current overdraft with Royal Bank of Scotland. It has drawn down £26m at an initial all-in rate of 4.6296%. AEI can expand the facility to £50m subject to approval from BoC and RBSI while the trust has a £10m 3.9% fixed rate loan with the bank until May next year.
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