The Tokyo Olympics are underway. The games have been controversial in Japan, largely because of fears that they will accelerate the current wave of COVID-19 cases affecting the country. The opening ceremony played to a near-empty stadium and spectators are barred from events in Tokyo as a state of emergency is in force in the […]
Ecofin US Renewables buys 12 solar projects – Ecofin US Renewables has signed an agreement to buy 12 ground mount solar photovoltaic projects, all at construction stage, with an aggregate asset value of approximately $95m. The combined capacity of these projects is estimated at 69MW, which will help offset over 83,000 tonnes of CO2 equivalent […]
Apax benefits from Paycor IPO – The Apax IX Fund, which Apax Global Alpha is invested in a limited partner, is an indirect shareholder in Paycor, a leading U.S. provider of payroll and HR-related software. On 20 July 2021 Paycor announced the pricing of its initial public offering of common stock (IPO) and shares of Paycor […]
In QuotedData’s morning briefing 22 July 2021: Riverstone Energy has sold its one-third stake in ILX Holdings III for about $172m in cash. This is equivalent to 1.0x the amount invested (they use the term MOIC, which stands for money on invested capital). The price is a 23% premium to the valuation at 31 December 2020. […]
Regional REIT sells more industrial property – Regional REIT has exchanged contracts with ARA Dunedin for the sale of a significant industrial property portfolio for £45.0m. This reflects a net initial yield of 6.75% to the purchaser and the price is 7.5% above the valuation as at 31 December 2020. After capital expenditure, the sale represents […]
Polar Capital Technology held back by widening discount – Polar Capital Technology Trust has published results for the year ended 30 April 2021. The 12-month period was one where the sector performed extremely well but gave back some of its returns in the final couple of months. The trust just failed to match its benchmark, returning […]
In QuotedData’s morning briefing 21 July 2021: Bluefield Solar (BSIF) received applications for 89,067,980 new shares under its issue and the board has decided to increase the offer size so that it can accept the lot. The shares are being issued at 118p – the gross issue size will be £105.1m. Custodian REIT (CREI) has sold […]
Pershing Square rejigs Universal Music deal – On Sunday, the board of Pershing Square Tontine Holdings – the special purchase acquisition company (SPAC) that Pershing Square listed on the New York Stock Exchange (NYSE) last year – decided not to proceed with its planned acquisition of a stake in Universal Music Group. That deal will […]
In QuotedData’s morning briefing 14 July 2021: Apax Digital Fund, which is backed by Apax Global Alpha, is making an investment in Tide as part of a series C funding round. Tide, a business financial platform offering business accounts and related banking services, as well as a comprehensive set of integrated software solutions, is already a […]
Hg Capital backs insightsoftware, which describes itself as a global provider of enterprise software solutions for the ‘Office of the CFO’. The Hg Saturn 2 Fund will make a c.$1bn equity investment in insightsoftware to become a significant minority shareholder alongside TA Associates. The transaction values the business at an enterprise value of around $4bn. […]
