Pantheon International (PIN) has sold £224m ($300m) of fund investments in what the £1.6bn private equity fund called a “significant step forward” in its efforts to increase share buybacks and cut the 27% discount at which it stands. The sale of 42 fund exposures across 28 general partners (GPs), or external fund managers, represents 10.7% […]
LondonMetric Property (LMP) and Schroder Real Estate (SREI) have unveiled their joint all-share bid for Picton Property Income (PCTN) that they have been preparing since March, offering 0.190 LMP shares and 0.881 SREI shares per Picton share. At their respective closing prices of 187.7p and 48.3p last night, this values Picton at £403.4m or 78.2p […]
Blackstone has sold the 45,000 song Hipgnosis catalogue to Sony in a deal reported to be up to $4bn. The music rights business, renamed Recognition Music Group last year, includes former London-listed Hipgnosis Songs Fund which Blackstone took private with a $1.57bn bid in 2024. Singapore wealth fund GIC is backing Sony. The rebound in […]
The Renewables Infrastructure Group (TRIG) has sought to shore up shareholder support for its continuation vote next month with the £1.6bn InfraRed Capital fund saying it will raise £400m through disposals and modest debt issuance in the next 12 months, an increase of £300m on existing plans, in order to prioritise share buybacks to tackle […]
F&C (FCIT) says its four-for-one share split has taken place after shareholders in the £6.2bn global equity fund approved the move at its annual general meeting on 29 April. Announced at its annual results in March, the split is designed to improve liquidity in the stock and sees the 158-year-old investment trust quadruple the number […]
JPMorgan Claverhouse (JCH) fund manager Anthony Lynch believes Bank of England governor Andrew Bailey is talking tough on inflation but that policy makers at Threadneedle Street are unlikely to hike interest rates to over 5% as he warned they might last week. Speaking on QuotedData’s “In The Hot Seat” show, Lynch said the Bank’s worst-case […]
Staude Capital and Asset Value Investors have built stakes in Home REIT (HOME) since the cash-laden but scandal-ridden real estate investment trust returned from a 39-month suspension on 29 April. Staude, a London-based activist, which runs the Australian-listed Global Value Fund, has been most active, accumulating 9% of the former homeless accommodation provider which holds […]
Seraphim Space (SSIT) raised £137m in its C-share offer before costs: £76.4m in the institutional placing, £45m to retail investors and a £15.1m direct subscription by a single institution. The £529m investment trust and its fund manager said they were “delighted” by the response which came in below the £350m maximum cap but was drawn […]
Manchester & London (MNL), the £360m global technology trust, has almost halved its position in Nvidia, citing problems with the AI chip maker’s rollout of its new Vera Rubin platform. Fund manager Mark Sheppard yesterday said he had made “material changes” to the portfolio with its holding in Nvidia (NVDA), the world’s most valuable company […]
Herald (HRI) has reached an agreement with Saba Capital to ensure the £1.4bn global technology trust’s survival. The activist hedge fund with a 30.7% stake has agreed to a three-year standstill in return for a 66% tender offer that will let investors take half their stake as assets and half in cash. In addition, the […]
