Saba Capital, the activist hedge fund, has opened a 5% position in SDCL Efficiency Income (SEIT), a move that could see it apply pressure to the board of the £615m renewables fund ahead of a continuation vote in 12 months’ time. A stock exchange filing yesterday evening shows funds at Boaz Weinstein’s New York-based firm […]
Fidelity European, International Public Partnerships and BlackRock World Mining report half-year results; Abrdn UK Smaller Companies publishes annual results and a plan to change its name to Aberdeen; and the Competition and Markets Authority looks into the merger of Primary Health Properties and Assura. Fidelity European (FEV) underperformed by 4.7% in the first half of […]
BioPharma Credit (BPCR), one of four alternative income funds shortlisted in our Investors’ Choice Awards, has announced a $62.5m (£46.5m) five-year loan to a US drug company developing a treatment for a rare form of sexually transmitted disease. Precigen, a Maryland-based biotech specialising in difficult-to-treat conditions, has obtained a $125m secured loan from Pharmakion, the […]
Klarna, the Swedish credit provider, has revived plans for a $14bn (£10.5bn) flotation, raising hopes for Chrysalis (CHRY) which holds a 15% weighting to the global buy-now-pay-later firm. Shares in Chrysalis, a £600m pre-flotation private equity fund, rose over 1% today on hopes yesterday’s announcement of a New York listing may pave the way for […]
Janus Henderson, manager of Bankers (BNKR), the underperforming £1.3bn global investment trust, has appointed technology fund manager Richard Clode to run the bulk of its assets. Clode, manager of the £1.7bn Janus Henderson Global Technology Leaders fund for 11 years, will work as co-manager with Alex Crooke, the trust’s lead manager since 2003. After a […]
Alternative Income REIT’s dividend bears the impact of refinancing its debts on a higher interest rate; plus updates from Vietnam Holding, Oakley Capital Investments and Aurora UK Alpha. Bankers (BNKR) fund manager Janus Henderson has appointed Richard Clode, manager of its top quartile Global Technology Leaders fund as co-manager of the £1.3bn global equities investment […]
Fidelity Emerging Markets (FEML) has agreed to buy back the 25.7% legacy stake held by Strathclyde Pension Fund at a price 14% below net asset value (NAV). Given the £548m investment trust stands on about a 10% discount, that should lead to a 4% uplift to NAV per share, which analysts welcomed. On a poor […]
Caledonia Investments (CLDN) has agreed to sell its top holding in wealth manager Stonehage Fleming for around £288m in cash. The disposal of its six-year investment, which accounted for 7.5% of its £3bn global multi-equity portfolio, comes after Stonehage, multi-family investment office, sold its business to Miami-based Corient Private Wealth. Caledonia will receive £251m for […]
Rufus Darwall, son of European Opportunities Trust (EOT) fund manager Alexander Darwall, has increased his holding in the investment trust to 7.6% from 3.1%, a stock exchange filing shows. That leaves Darwall junior with a £32.8m stake in the £432m closed-end fund, an increase of £19.4m on the £13.4m position he previously held. That’s not […]
HarbourVest Global Private Equity commits money to the simpler seperately managed account announced in May; Value & Indexed Property offers an exit and investment opportunity; and updates from Custodian Property Income and Sirius Real Estate. Fidelity Emerging Markets (FEML) has agreed to buy back the 25.7% stake held by Strathclyde Pension Fund at a price […]
