Tungsten West (TUN), the Devon-based tin and tungsten miner that has helped power the 108% one-year performance of Baker Steel Resources (BSRT), jumped another 18% yesterday after the National Wealth Fund invested £36m for a 7% stake and provided £25m in debt. BSRT rose 2.8%. Pantheon International (PIN), the £2bn private equity portfolio standing on […]
Shaires Holdings (SHR), the AIM-listed investment company offering investors access to a portfolio of unquoted technology and artificial intelligence (AI) companies, including one seeking to revive woolly mammoths, is up and running after raising $14.3m (£10.5m) in this month’s share issue. The former Jade Road Asian private equity fund, which changed its name and investment […]
Glenstone REIT has received acceptances from holders of 2.4%, or over 1.9m, of shares in Alternative Income REIT (AIRE) to its 70p per share, £56.3m cash offer. That’s a big increase from the 0.025% or 17,849 shares it had last week but is short of what the 25.4% AIRE shareholder would have wanted to gain […]
Update: Baillie Gifford US Growth Trust (USA) has received a requisition notice from Saba Capital Management, the activist hedge fund holding 29% of its shares. New York-based Saba has put forward Jason Chen, Thomas H McGlade and James Waterlow as candidates for election to the £900m investment trust’s board at its annual general meeting in […]
Activist hedge fund Saba Capital lifted its stake in Syncona (SYNC) from 10% to 11.3% last Wednesday, according to a filing on Friday. Shares in the £659m Guernsey-based life sciences fund stand on a 26% discount below net asset value (NAV) having fallen 43% over five years, although they have gained 15% in the past […]
Updated: Gore Street Energy Storage (GSF) has urged shareholders to vote against the wind-down resolutions tabled by Saba Capital and announced the sale of the first two assets as part of the battery fund’s recovery programme launched in March. Chair Angus Gordon Lennox warned that the two resolutions the activist hedge fund requested last month […]
Golden Prospect Precious Metals (GPM), the £92m gold mining fund preparing to move to Baker Steel from CQS Manulife, scored a hit with its big share buybacks in the first half of the year. Interim results today show the investment company suffered a 13.6% slide in net asset value (NAV) in the six months to […]
Glenstone, the 25.4% shareholder in Alternative Income REIT (AIRE), says it will resume its push for a managed wind-down of the real estate investment trust if its takeover offer fails, casting doubt on the “subscale” company’s dividend prospects. With two weeks to go until the deadline for acceptances for its £56.3m cash offer, Glenstone REIT […]
Schroder Real Estate (SREI) says Peter Lowe, head of UK Real Estate Investment at Schroders Capital, will replace Nick Montgomery as lead manager once its joint acquisition of Picton Property (PCTN) with LondonMetric (LMP) completes. Montgomery, who was promoted to Global Head of Real Estate at Schroders two years ago, will support Lowe, who oversees […]
Temple Bar (TMPL), the best performing UK equity income investment trust over five years, fell behind the FTSE All-Share in the first half of the year but has since pulled ahead of its benchmark, half-year results show. The £1.3bn closed-end fund recovered from the shock of the Iran war and the spike in oil prices […]
