Christian Mayes, Portfolio Adviser, 04 November 2025:
Private equity investment trust Chrysalis has announced it will make no new investments prior to its next AGM in 2026, while the board mulls the split results of a shareholder consultation.
In a stock exchange announcement this morning (4 November), the board said a “significant proportion” of shareholders consulted about the trust’s next steps felt Chrysalis holds “attractive investments” and should continue to be managed on a basis which allows the assets to achieve their full potential over time.
However, a “proportion” of shareholders consulted are looking to sell their investment in the near-term, the board added.
As a result, the board said it is considering how best to proceed given the split in shareholder views. The board’s favoured proposal will be published in December alongside the trust’s annual results..
James Carthew, head of investment company research at QuotedData, said despite a volatile period between 2021-2022, Chrysalis has done a good job of generating value while providing much-needed financing to a range of growing businesses since launch seven years ago.
“It has also succeeded in realising value from a substantial part of the portfolio, with the prospect of more to come. Now seems about the right time to offer an exit to those shareholders that want it while seeking fresh funds as part of that process.
“I would also suggest committing to the provision of future liquidity opportunities at say five-to-seven-year intervals, as this would give additional reassurance to prospective investors.”
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