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 […]
Caledonia Investments (CLDN) has invested £49.5m for a majority stake in Conquip Engineering Group, a Hampshire-based construction company and infrastructure services provider. The £2bn flexible investment company has bought 61% of the family-owned business which brothers Daniel and George Critchley will continue to lead and reinvest alongside Caledonia. Founded in 2003, Conquip employs 250 people […]
Allianz Technology (ATT) delivered a “very strong” 44.6% underlying return in the first half of the year with the £2.2bn investment trust smashing its Dow Jones World Technology index benchmark’s 25.8%. Interim results showed shareholders’ total return was 42.7% from positions linked to the artificial intelligence (AI) infrastructure boom as the share price discount widened […]
F&C (FCIT) managed to keep up with the FTSE All-World index in the first half of the year despite being underweight to soaring semiconductor and memory-related stocks. The £6.2bn FTSE 100-listed investment trust, the UK’s oldest, made a 12.4% total investment return in the six months to 30 June, just behind the benchmark’s 12.6%, although […]
Octopus Renewables Infrastructure’s (ORIT) net asset value (NAV) fell 5.8% in the second quarter after the £329m investment trust cut its long-term forecasts for onshore wind generation by 10%. Fund managers David Bird and Chris Gaydon said a review of the maturing onshore wind farms that account for 57% of ORIT’s seven-year-old portfolio had replaced […]
Worldwide Healthcare Trust (WWH) fund manager Sven Borho has stepped down with immediate effect. The OrbiMed partner, who helps lead the New York firm’s public equity team and emerging markets teams, has been involved in the £1.3bn listed fund since its launch in 1995, although he did not become a named manager until 2013. Borho, […]
