Tetragon Financial Group (TFG), the £1bn hedge fund and alternative investments platform standing on a huge 69% discount to net asset value, has launched a $50m tender offer to let holders of its non-voting shares sell them between $12.75 and $14.75. The tender offer is expected to close on 3 September. The shares stand at $13.60 compared […]
Saba Capital has disclosed a stake of 5.1% in Unite Group (UTG), confirming reports last month that the activist hedge fund was building a position in the UK’s largest student accommodation provider. A filing today shows the US firm has just 0.08% in shares with 5% in total return swaps held across a range of […]
RM Funds, the 4.8% shareholder in Gore Street Energy Storage (GSF) that tapped into investor discontent over the investment trust last year, has signalled its intention to back Saba Capital in voting for the fund’s discontinuation next month. Pietro Nicholls, the VT RM Alternative Income fund manager who led RM Funds’ campaign for better governance […]
Target Healthcare (THRL) boss Kenneth MacKenzie says he is looking forward to Andy Burnham’s social care reforms after the new prime minister’s speech on the subject last week. MacKenzie, chief executive of Target Fund Managers, which runs the £1bn care home portfolio, said: “We note the prime minister’s recent social care plan speech and the […]
Seraphim Space (SSIT) says space start-ups raised approximately $7.5bn across 141 venture deals during the second quarter of 2026. Its research, which features in the investment trust’s latest newsletter, found that investment remained close to record levels, with SpaceX’s IPO helping to broaden investor interest. James Carthew, head of investment company research at QuotedData, said: […]
Pantheon International (PIN) plans to offload more fund holdings as it repositions its £2.1bn private equity portfolio towards direct investments and continues to return capital to shareholders. In annual results today Pantheon partner and PIN’s lead manager Charlotte Morris indicated that the £224m ($300m) of fund stakes sold in May was the first of a […]
Asset Value Investors, the investment trust manager and activist investor, has sold its business to Pacific Asset Management. Joe Bauernfreund, chief executive and lead manager of AVI Global (AGT) and AVI Japan Opportunity (AJOT), said London-based PAM, which manages £18.4bn, would provide a platform for AVI’s growth. Established 41 years ago, AVI has £2.1bn of […]
Seraphim Space (SSIT) has invested over £21m of the £137m it raised in a C-share (SSIC) issue in May, ploughing more money into two companies it already holds in the portfolio: Pixxel, the Indian satellite constellation operator, has received a follow-on investment of $25m (£18.6m); and Zeno Power, the US nuclear battery technology provider, a […]
Gore Street Energy Storage (GSF) has said it will put forward two continuation votes requisitioned by Saba Capital last week for its AGM on 16 September. In a short update, the battery fund said, although it was not “obliged” to proceed with the resolutions as drafted by the activist hedge fund holding 17% of its […]
SEGRO (SGRO) has accepted the improved £14bn bid from Prologis offering the warehouse developer’s shareholders 258p cash per share and 0.0690 new Prologis shares per share. That maintains the same 1,054.3p per share Prologis offered on 22 July. Our view Richard Williams, senior analyst at QuotedData, said: “As expected, Prologis has firmed up its offer […]
