Partners Group Private Equity (PEY) is to launch its first share buyback programme in over 11 years this month in response to its chronic 22% share price discount. Following the sales in July of PCI Pharma Services, its largest investment, and Techem, its seventh largest investment, the £740m investment company says distributions this year will […]
Infrastructure Capital, a New York boutique, has bypassed the buoyant market in London-listed debt funds to launch the first actively managed Dublin-based exchange traded fund (ETF) investing in US preferred shares. The Infrastructure Capital Preferred Income Ucits ETF has been listed by ETF provider HANetf on the London Stock Exchange under the PFFI ticker as […]
Henderson Smaller Companies (HSL), the £549m underperforming UK small-cap investment trust whose fund manager Neil Hermon retired last month after 23 years, has passed its triennial continuation vote. At the annual general meeting yesterday it gained the support of 95% of votes on turnout of 38.6%. Riverstone Energy (RSE) is to return £190m in a […]
Full-year results from PRS REIT (PRSR) underline the scale of the bargain pension asset manager Waypoint is getting with its £646.2m acquisition of the family home rental fund. In the year to 30 June, net asset value per share rose 7.4% to 143p from 133.2p, although the rate of growth slowed to 2.3% in the second […]
A weak dollar weighed on ICG Enterprise (ICGT) in the first half of its financial year but marketing efforts by the £949m private equity fund, combined with share buybacks and success in exiting investments during a sector downturn nonetheless produced a good result for shareholders. The investment trust, which invests in private equity funds run […]
LondonMetric Property (LMP) issues a half-year trading statement saying it expects to report a 14% increase in net rental income to £219m for the six months to 30 September following its acquisitions of Highcroft Investments and Urban Logistics this year. A further reduction in the EPRA cost ratio to 7.7% is also anticipated as the […]
Fidelity Emerging Markets (FEML) has notched up a third year of outperformance and its second year of positive returns with shares trading at an all-time high as the weak dollar drives investors back to its sector and the investment recovery reduces the impact of losses arising from Russia’s invasion of Ukraine three years ago. The […]
Half-year results from Baillie Gifford growth capital fund Schiehallion and Franklin Global; annual figures from Alternative Income REIT; shareholder approval for the merger of European Assets with European Smaller Companies Trust; plus updates from Sirius Real Estate, Marwyn Value Investors, Calculus VCT and Canadian General Investments. Schiehallion (MNTN), the £1.1bn Baillie Gifford growth capital fund […]
The £300m flotation of the Beauty Tech Group (TBTG) on Thursday not only cheered the London stock market after a dearth of listings, it has also boosted the three venture capital trusts (VCTs) run by Mercia Fund Management. From a 271p offer price, shares in TBTG rose 5% to 285p on Friday and have softened […]
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 […]
