The Renewables Infrastructure Group (TRIG) has taken a big first step in achieving its 12-month £400m disposal target with the £155m sale of its 17.5% stake in the Beatrice offshore wind farm. TRIG will use the proceeds to reduce the £240m drawn on its credit facility as the £1.7bn investment company prioritises the return of […]
British & American (BAF), the £2m self-managed global equity income trust, has been “surprised” by the resignation of auditor MHA BakerTilley International over its use of an independent valuer to assess its £3.5m of film rights. “Whilst those procedures were completed to our satisfaction, and we concluded that the value recognised by management, supported by […]
Update: Scottish Mortgage (SMT) shares rallied 5% after bullish SpaceX investors shook off a warning from fund manager Tom Slater of the potential for volatility in Elon Musk’s company heading for a record $1.77trn (£1.3trn) flotation this afternoon. Shares in the £15.9bn Baillie Gifford flagship advanced 68.5p to £14.94 before slipping to close at […]
Partners Group Private Equity (PEY) has written off its €20m (£17.3m) investment in Pharmathen, a Greek developer of advanced drug delivery technologies hit by an import alert from the US Food and Drug Administration (FDA) last year. “Despite major operational turnaround initiatives over the last year,” PEY said restrictions to US exports meant “the implied […]
Picton Property Income (PCTN) has said it is still assessing the joint bid from LondonMetric (LMP) and Schroder Real Estate (SREI) after delivering “solid” results for the year to 31 March. “The company is engaging with all stakeholders and due diligence is ongoing,” the company said in relation to the all-share offer it received a […]
Glenstone, the largest shareholder in Alternative Income REIT (AIRE), has made a £56.3m cash bid for the company, three weeks after making a public approach. The 70p per share offer is 3.5p, or 5.3%, higher than its previous offer of 66.5p which the AIRE board rejected in November 2025. However, it is just 0.4% above […]
Bending Spoons, the unquoted Italian digital turnaround company, has filed plans for a $20bn (£15bn) flotation in the US, boosting Baillie Gifford European Growth (BGEU) and its private equity stable mate Schiehallion (MNTN), which both hold it as a top position. BGEU, a £306m investment trust trying to revive its performance under new fund manager […]
TwentyFour Select Monthly Income (SMIF) says last month’s commitment by Andy Burnham to follow the Labour government’s fiscal rules if he replaces Kier Starmer as prime minister has contributed to the credit fund’s cautious optimism after a half-year marked by turbulence from the Iran war. George Curtis, a portfolio manager at TwentyFour Asset Management, said […]
Pacific Assets (PAC), the £473m investment trust hit by the exit of its Stewart Investors management team last year, is to merge with Schroder Asian Total Return (ATR), offering shareholders a 25% cash exit at a 2% discount. The decision of Sydney-based First Sentier to close its Edinburgh subsidiary following the departure in August of David Gait, […]
Tritax Big Box REIT (BBOX) shares rose nearly 5% to 151p yesterday afternoon after the government approved its data centre development at Manor Farm near Heathrow. Planning consent had originally been expected in the second half of last year but the confirmation means the £4.1bn logistics fund should remain on track with its updated timeline […]
