A 20% share price rally last month has tipped Onward Opportunities (ONWD) above £50m of assets for the first time since launch over three yeas ago. The UK smaller companies investment company, which came to market with less than £20m in March 2023, said a string of positive company results had helped propel the portfolio […]
Seraphim Space, the manager of Seraphim Space (SSIT) investment trust, will launch an exchange-traded fund tomorrow offering investors access to both public and private space technology companies. The index-tracking Seraphim New Space ETF will, according to The Times, have exposure to the “new cohort of recently listed New Space companies [which] are disrupting incumbent and […]
VH Global Energy Infrastructure (ENRG) has made the first disposal in its three-year wind-down, selling two oil storage facilities on the coast of Texas for $134m (£99m) to its fund manager Victory Hill. The £298m investment trust said the sale agreement of the facilities at the Port of Brownsville on the Texas Gulf coast was […]
New City High Yield Fund (NCYF) fund manager Ian “Franco” Francis said he and co-manager Darren Toner sold Aston Martin’s 10.375% 2029 bond after a controversial £550m debt financing in July by BlackRock’s private credit subsidiary HPS Investment Partners altered the debt’s asset backing. The Financial Times reported last month that bond holders were considering […]
Tom Burnet, the new chair of CT Private Equity (CTPE), has predicted the £346m investment trust will see more profitable exits like the 71% uplift it made taking £17.9m on its stake in Cyberhawk when the US drone-based inspection group was snapped up for $125m in June. Burnet, who succeeded Richard Gray at the helm […]
Vietnam’s economy and the earnings of its listed companies are strengthening yet share prices have gone the other way, say Vietnam Enterprise (VEIL) fund manager Tuan Le and Craig Martin, chair of Dynam Capital, the manager of Vietnam Holding (VNH). Tuan Le points to “foreign selling and a domestic flight to bank deposits” for offsetting […]
Partners Group Private Equity (PEY) has seen its five-year annualised return fall into negative territory as it prepares to give disgruntled shareholders a 30% exit. Interim results show that six successive months of investment losses knocked 8.6% off the net asset value (NAV) of the investment company in the first half of the year, nearly […]
BlackRock American Income (BRAI) is seeking shareholder approval to issue up to 30% more shares as investor demand continues to be strong following the adoption of a systematic stock-picking approach in April last year. The investment trust will ask shareholders to vote on three separate resolutions at a general meeting on 14 September, each approving […]
Update: AEW UK REIT (AEWU) has withdrawn its all-share offer for Alternative Income REIT (AIRE) citing the opposition of Glenstone REIT, AIRE’s 25.4% shareholder and rival bidder, with the board of the target lashing out at its largest investor. “Following Glenstone’s public statement that it would not support an offer from AEWU and subsequent attempts […]
Saba Capital has followed co-activist RM Funds in demanding Gore Street Energy Storage (GSF) publish full details of the sale of two of its Irish assets last week as the hedge fund urged other shareholders back its vote for the battery fund to be wound up. In an open letter calling on shareholders to back […]
