Phaunos Timber has announced that Green Resources (a company that Phaunos Timber owns 26% of) is buying Global Solidarity Forest Fund (a company with plantations in Mozambique adjacent to Green Resources’ own forests). The deal will dilute Phaunos Timber’s holding down to 18.9% but is being struck at a price for Green Resources equivalent to […]
JP Morgan Private Equity has announced that it has invested $50m in four companies since December – one third of their target for the period ended 31 December 2015. All of the investment has been funded from the proceeds of distributions from its existing portfolio. $14m of the $50m was invested in a US based […]
Invista European Real Estate has agreed a new €220m credit facility with Blackstone Real Estate Debt Strategies and has repaid all the money it owed to Cerberus Capital Management / Bank of Scotland. The new facility is priced at 770 basis points over LIBOR and has an initial LTV covenant of 85%. If, by selling […]
Witan Pacific has published its results for the year ended 31 January 2014. The net asset value total return for the year was a fall of 6.5% – this compares to a positive 0.2% return from the company’s benchmark. The discount narrowed a little and so the return to shareholders was -5.2%. Gillian Nott, the […]
Mid Wynd has announced that as Michael MacPhee, who is the company’s existing investment manager, is retiring, they have decided to move Mid Wynd’s management contract from Baillie Gifford to Artemis. The new management team will comprise Simon Edelsten, Alex Illingworth and Rosanna Burcheri who are, collectively, Artemis’s Global Select team. They focus on “a […]
Edinburgh Dragon’s figures for the six months ended 28 February 2014 show a fall of 5% I total return terms for the company’s net assert value – 4% worse than the 1% fall in its benchmark index. The Chairman attributes this Edinburgh Dragon’s holdings in Greater China and Singapore.
Aberdeen New Thai’s net asset value fell over the course of the year to the end of February 2014, posting a negative total return of 25.6% – marginally better than the -26.6% return on the Stock Exchange of Thailand Index. The discount widened resulting in a return to shareholders of -33.3%. The average discount over […]
Back in 2012, F&C Commercial Property entered into a forward agreement to buy four pre-let office buildings in Aberdeen – once construction had finished. Two blocks were ready in March and F&C Commercial Property has just announced that it completed on the other two on 17 April. The total cost of the 300,000 sq. ft. […]
Investors In Global Real Estate has decided to appoint a new manager to replace CBRE Clarion Securities LLP – the new manager is expected to take up their duties in July 2014. In the meantime Investors in Global Real Estate has decided to suspend its discount control mechanism.
Gresham House’s net asset value fell from 445.1p to 378.5p over the year ended 31 December 2013. most of the fall can be accounted for by write-downs in the valuation of the company’s investment properties and the fall in value of one of its equity investments – Memorial Holdings (a cemetery company which lost its […]
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