Partners Group Private Equity (PEY) has seen its five-year annualised return fall into negative territory as it prepares to give disgruntled shareholders a 30% exit. Interim results show that six successive months of investment losses knocked 8.6% off the net asset value (NAV) of the investment company in the first half of the year, nearly […]
BlackRock American Income (BRAI) is seeking shareholder approval to issue up to 30% more shares as investor demand continues to be strong following the adoption of a systematic stock-picking approach in April last year. The investment trust will ask shareholders to vote on three separate resolutions at a general meeting on 14 September, each approving […]
Update: AEW UK REIT (AEWU) has withdrawn its all-share offer for Alternative Income REIT (AIRE) citing the opposition of Glenstone REIT, AIRE’s 25.4% shareholder and rival bidder, with the board of the target lashing out at its largest investor. “Following Glenstone’s public statement that it would not support an offer from AEWU and subsequent attempts […]
Saba Capital has followed co-activist RM Funds in demanding Gore Street Energy Storage (GSF) publish full details of the sale of two of its Irish assets last week as the hedge fund urged other shareholders back its vote for the battery fund to be wound up. In an open letter calling on shareholders to back […]
Tungsten West (TUN), the Devon-based tin and tungsten miner that has helped power the 108% one-year performance of Baker Steel Resources (BSRT), jumped another 18% yesterday after the National Wealth Fund invested £36m for a 7% stake and provided £25m in debt. BSRT rose 2.8%. Pantheon International (PIN), the £2bn private equity portfolio standing on […]
Shaires Holdings (SHR), the AIM-listed investment company offering investors access to a portfolio of unquoted technology and artificial intelligence (AI) companies, including one seeking to revive woolly mammoths, is up and running after raising $14.3m (£10.5m) in this month’s share issue. The former Jade Road Asian private equity fund, which changed its name and investment […]
Glenstone REIT has received acceptances from holders of 2.4%, or over 1.9m, of shares in Alternative Income REIT (AIRE) to its 70p per share, £56.3m cash offer. That’s a big increase from the 0.025% or 17,849 shares it had last week but is short of what the 25.4% AIRE shareholder would have wanted to gain […]
Update: Baillie Gifford US Growth Trust (USA) has received a requisition notice from Saba Capital Management, the activist hedge fund holding 29% of its shares. New York-based Saba has put forward Jason Chen, Thomas H McGlade and James Waterlow as candidates for election to the £900m investment trust’s board at its annual general meeting in […]
Activist hedge fund Saba Capital lifted its stake in Syncona (SYNC) from 10% to 11.3% last Wednesday, according to a filing on Friday. Shares in the £659m Guernsey-based life sciences fund stand on a 26% discount below net asset value (NAV) having fallen 43% over five years, although they have gained 15% in the past […]
Updated: Gore Street Energy Storage (GSF) has urged shareholders to vote against the wind-down resolutions tabled by Saba Capital and announced the sale of the first two assets as part of the battery fund’s recovery programme launched in March. Chair Angus Gordon Lennox warned that the two resolutions the activist hedge fund requested last month […]
