Private equity fund Oakley Capital Investments (OCI) has committed £3m to an £8m fund raise by Time Out Group (TMO) after the £43m listings and events group suffered a slump in media revenues caused by the growing use by consumers of AI and social media. OCI, a £937m investment company that invests in the private […]
RTW Biotech Opportunities (RTW) has invested $5.9m in the series A financing of Yarrow Bioscience, a new clinical-stage company it helped found to develop transformative therapies for autoimmune thyroid diseases. This week Yarrow and fund manager RTW Investments announced a global ex-China licence agreement for Yarrow’s main treatment with Shanghai Scizeng Medical Technology, a subsidiary of Changchun GeneScience […]
US bond giant PIMCO has expanded its exchange-traded fund range with the launch of two active ETFs focused on global and European government bonds. The PIMCO Advantage Global Government Bond UCITS ETF (GOVI) and PIMCO Advantage Euro Government Bond UCITS ETF (EUGO) will seek to outperform their respective benchmarks, the Bloomberg Global Aggregate Treasury and […]
(Update of article published yesterday) Baillie Gifford has hiked its valuation of SpaceX by 87% according to updates published by four of its investment trusts yesterday. This includes flagship Scottish Mortgage, which saw its net asset value (NAV) jump by a remarkable £1bn in one day Citing a “trigger event that required an upwards adjustment” in the valuation, Scottish […]
Edinburgh Worldwide (EWI) has urged shareholders to come to its rescue for a second time this year after activist hedge fund Saba Capital followed through on its threat to call an extraordinary general meeting. Saba, which holds a 30% position in the £744m global smaller companies investment trust, wants to oust the board’s six directors […]
Pressure on Gore Street Energy Storage (GSF) from activist investors has mounted following this week’s half-year results with Saba Capital doubling its stake to 10% and RM Funds calling on the board to cut costs and consider appointing a new investment manager. Saba, the US hedge fund currently embroiled in an argument with Baillie Gifford […]
Abrdn European Logistics Income (ASLI) has defied the call from its largest shareholder, DL Invest, to halt its wind-down and sale of assets, saying the process is largely complete and the costs of changing corporate direction are too high. Responding to the open letter published this week by the Polish logistics group, which owns 19% […]
Schroder European Real Estate (SERE) has received formal 12-month notice from Dutch telecoms group KPN of its intention to terminate its lease on the company’s Apeldoorn office and data centre in the Netherlands, a move that could impact the 8.4%-yielder’s dividends. The fund manager of the £83m real estate investment trust is “pursuing a number […]
Vanguard has re-entered the European active ETF market with the launch of a euro cash fund five years after it pulled out citing insufficient investor demand. In a sign of more positive times in the rapidly growing active exchange-traded fund segment, the index-tracking giant listed the Dublin-based EUR Cash UCITS ETF on Euronext, with the […]
HarbourVest Global Private Equity (HVPE) has agreed to sell $300m (£224m) of assets from its $4.6bn portfolio to boost share buybacks and highlight the extreme undervaluation of its stock. Five HVPE positions in buyout funds will be sold over the next year at a blended discount of 6% below the 30 June valuation. That contrasts […]
