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Today
red sale signs in the sky

Hugh Osmond and SunCap private equity partners pile into what’s left of Woodford Patient Capital Trust

The managed wind-down of Schroders Capital Global Innovation (INOV), the former Woodford Patient Capital Trust, has caught the attention of financier Hugh Osmond and the senior private equity team at Sun Capital Partners (SunCap).  A stock market filing this week showed that Osmond, a veteran deal-maker who bought Pizza Express and helped consolidate the pub […]

Today

Morning briefing: US data centre REIT Fermi splashes in London; plus PEY, EOT, MMIT, SBO, NBDD

The $15bn (£11bn) US flotation of Fermi (FRMI), a data centre real estate investment trust, has given the UK market a new REIT launch after three years in which the number of listed property funds has halved. Shares in the Texan company, which was co-founded by former US energy secretary and Texas governor Rick Perry […]

Today

Activist Saba strikes again, nearly ousting the board of Baillie Gifford US Growth with a 49% vote

The chair of Baillie Gifford US Growth (USA) has attacked Saba Capital after the activist hedge fund yesterday almost removed the board of the £751m investment trust eight months after it spectacularly failed to do so in a high profile extraordinary general meeting.  Saba used its 29% stake in the trust to vote against the […]

02 Oct 2025

Barings Emerging welches on 25% tender offer

Barings Emerging EMEA Opportunities (BEMO) has taken the controversial decision not to proceed with a conditional 25% tender offer that it committed to five years ago, saying to buy back up to a quarter of its shares would significantly reduce the size of the £94m fund, worsen liquidity in the stock and push up its […]

02 Oct 2025

International Biotechnology commits £10m to Schroders Capital private equity funds

International Biotechnology Trust (IBT) is to expand its investments in unquoted companies under a partnership with Schroders Capital, the private markets arm of its fund manager Schroders. The £258m investment trust has committed to invest £10m, around 4% of its assets, in Schroders Capital funds focused on innovative, early-stage biotech companies. This is in addition […]

02 Oct 2025

Gore Street Energy accelerates board “refresh” and declares special 1.5p dividend

Gore Street Energy Storage (GSF) is to speed up the replacement of its board of directors in response to the significant minority votes against their re-election at the recent extraordinary and annual general meetings of shareholders. Following the appointment last month of infrastructure investor Simon Merriweather, the board is close to announcing a new non-executive […]

02 Oct 2025

Morning briefing: Pacific Assets offers 25% exit in 2028 if performance doesn’t improve; plus JGGI, JII, RKW, ADIG, PPET, SSIT

Board of Pacific Assets Trust insists its fund managers must make up for underperformance of the past four years to avoid a 25% tender offer in 2028, plus annual results and updates from JPMorgan Global Growth & Income, Abrdn Diversified Income & Growth, Patria Private Equity, Seraphim Space and a name change at JPMorgan Indian. […]

02 Oct 2025

Ex-Scottish Mortgage manager James Anderson says AI valuations and investor behaviour are “disconcerting”

Former Scottish Mortgage Trust (SMT) fund manager James Anderson has expressed concern about a bubble in artificial intelligence (AI) following Nvidia’s plan to invest $100bn in OpenAI. Anderson, who now runs a fund at Lingotto Investment Management, a firm backed by Italy’s billionaire Agnelli family, told the Financial Times that the surge in valuations in […]

02 Oct 2025

TwentyFour Income launches share issue to fund “significant” opportunities in high-yield, asset-backed bonds

TwentyFour Income Fund (TFIF) has become the second debt fund to launch a fund raise this week in response to strong investor demand for high-yielding asset-backed securities (ABS). The £883m investment company, whose shares yield 9.7% after consistently beating its dividend targets since launch in 2013, has announced a two-week share placing and open offer […]

01 Oct 2025

Litigation Capital Management shares crash to new low after High Court defeat

Litigation Capital Management (LIT), an alternative asset manager that finances legal disputes, plunged today after the company was hit by the latest in a string of courtroom defeats that have pushed the Australian business deeply into the red. Shares in the AIM-listed company tumbled 16p, or 60%, to 10.6p after the High Court in London […]