Valhalla Ventures, the holding company of Preqin founder Mark O’Hare and his wife Linda, raised its new position in HgCapital Trust (HGT) from 3.3% to 4.4% on Tuesday, a disclosure showed yesterday. Preqin, an alternative assets data provider was bought by BlackRock for £2.5bn in 2024, netting a £2bn windfall for the company. At 463p […]
The Association of Investment Companies (AIC) has written to the Financial Conduct Authority (FCA) and the Department for Business and Trade (DBT) demanding measures to protect shareholders following Saba Capital’s call for a third meeting to remove the board of Edinburgh Worldwide (EWI). The trade body, which represents 276 London-listed investment companies with assets of […]
Invesco Bond Income Plus (BIPS) has raised £25m in the share issue it launched last month. Although the fund raise expands the £425m investment company by just 6%, the offer was comparatively well supported by private investors attracted by its covered 7% dividend yield. Over 6.6m shares were bought in the WRAP retail offer, 46% […]
Saba Capital has sought to deflect criticism of its third attempt to replace the board of Edinburgh Worldwide (EWI) by proposing a full cash exit near net asset value (NAV) for shareholders who don’t want to remain invested in the investment trust dominated by the activist hedge fund. Saba, which holds just over 30% of […]
Brunner (BUT) has promised to protect shareholders’ capital from excessive AI speculation after underperforming the “extraordinarily narrow” market rally in its last financial year. Annual results show the £635m global equities investment trust, whose quality growth stock portfolio is managed by Julian Bishop and James Ashworth at Allianz Global Investors, made a total underlying return […]
Bellevue Healthcare (BBH) will hold a general meeting on 4 March for shareholders to approve the investment policy of its proposed new fund manager, Columbia Threadneedle, but the deal could fall apart if the investment trust shrinks too much in a 100% tender offer. In an example of good corporate governance, BBH is offering shareholders […]
Schroders (SDR), the FTSE 100 fund management group, has accepted a £9.9bn cash offer from US investment group Nuveen. Nuveen, the investment management arm of the Teachers Insurance and Annuity Association of America, has agreed to pay 612p per share for Schroders shares comprising of 590p cash plus a 22p dividend. The cash is 29% […]
Pershing Square (PSH) fund manager Bill Ackman has revealed he bought a $2bn stake in Meta Platforms (META) last November, betting the Facebook and Instagram owner will benefit from its huge expenditure on artificial intelligence which is forecast to rise to $135bn from $72.2bn in 2025. In an annual presentation to investors in the £8bn […]
The Renewables Infrastructure Group (TRIG), the £1.7bn renewables fund labouring under a 36% share price discount, has announced a £200m private debt placement to reduce its £398m revolving credit facility by the same amount. It comprises of two fixed rate loans, one in sterling for £100m and another in euros for €115m. James Carthew at […]
Picton Property Income (PCTN) rallied nearly 6% after the UK real estate investment trust said LondonMetric Property (LMP) had taken an interest in the strategic review and sale process it began last month. Shares in the £452m REIT rose 4.7p, or 5.6%, to 87.8p as the company said it looked forward to progressing discussions with […]
