Gore Street Energy Storage (GSF) has unveiled its strategic review, announcing plans to sell 8% of assets to upgrade the remaining portfolio and increase revenues as it looks to win back shareholders after last week’s dividend cut and head off a challenge to its board. The £314m battery fund said it would seek buyers or […]
JPMorgan Global Growth & Income co-manager Tim Woodhouse steps down and Greencoat UK Wind reports a 4.4% fall in the portfolio and sells £181m of assets. JPMorgan Global Growth & Income (JGGI) co-manager Tim Woodhouse is stepping down to take a new job at JPMorgan Asset Management, leaving Helge Skibeli and James Cook in charge […]
Update: Share price performance figures and yields in this article have been corrected and updated to 31 July. Apax Partners’ cash bid for Apax Global Alpha may not be the catalyst for an immediate, sector-wide narrowing of listed private equity fund, say fund managers, but be in no doubt, ultra-wide share price discounts of 30%-40% […]
Gresham House Energy Storage (GRID) has announced a third long-term floor pricing agreement with EDF Energy to underpin the battery fund’s revenues and secure refinancing for its three-year recovery plan. The 10-year contract with EDF Energy is at the same floor level in £/MW terms as the deals announced with Statkraft Markets and Markel Bermuda […]
Positive property news with results from Unite and Shaftesbury Capital and an office disposal by Derwent London, while Schroder British Opportunities details its plan to focus on private equity. Shaftesbury Capital (SHC), the real estate investment trust focused on London’s West End, has entered the second half of the year with “strong momentum” after a […]
Former Ruffer Investment Companies (RICA) fund manager Duncan MacInnes is joining Aberforth Partners, the Edinburgh-based UK smaller companies specialist. In doing so he has added his voice to those calling out a turning point in the depressed sector’s fortunes. MacInnes left Ruffer in February, a month after its flagship RICA investment company formally reported a […]
The Association of Investment Companies (AIC) has accused the government of a contradictory approach to the UK’s £262bn listed closed-end funds sector after excluding its members from the Pension Schemes Bill. The new bill will empower the government to force pension schemes to invest some of their portfolios in private assets, but as currently drafted […]
Life Science REIT (LABS) has received “significant amount of interest” from potential buyers but warned its real estate portfolio fell by nearly 11% in the first half. The “Golden Triangle” property investor put itself up for sale in March as part of a strategic review launched in response to the wide discount the shares have […]
Aquila European Renewables slides 12% as preferred bidder cuts the value of its bid and board pauses sales process, and CVC Income and Growth changes the master fund it feeds into. Aquila European Renewables (AERI) shares slide 12% to 54 euro cents as its board “pauses” the sale of the company after its preferred bidder […]
Literacy Capital (BOOK), the UK-focused, smaller company private equity fund, has cut its stake in its second largest investment, Velociti Solutions, a transaction that enables a £6m return of capital to shareholders and, equally important, validates the valuation of a portfolio stuck on a double-digit discount. Literacy, named after the reading charity it supports, said […]
