Overview
Castelnau Group invests in public and private companies with the aim of outperforming the All Share on a total return basis over the long term. It will seek to do this by acquiring businesses with a competitive advantage at attractive prices. It believes that its structure helps it to “clear away short-term pressures that inhibit value creation and nurture rational long-term capital allocation frameworks.”
Castelnau Group was formed by Phoenix Asset Management Partners Limited in 2020. The listed structure provides the manager with a permanent capital vehicle with which to make long-term investments and acquisitions of all structures and sizes.
You can access the fund’s website here
Fundamentals
Price
News
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13 May 2025 1 min read
QuotedData’s morning briefing 13 May 2025 – CGL, CLDN, VOF
In QuotedData’s morning briefing 13 May 2025: We also have: Did you miss from yesterday?
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02 May 2025 3 min read
QuotedData’s morning briefing 2 May 2025 – CGL, APAX, TPOU/TPOS, PCTN, GCL
[QD comment MR: This marks a rare instance where a subscription exercise has been declined on valuation grounds and reflecting the sharp disconnect between the pre-set subscription terms and prevailing market conditions. Clearly GCL’s board are looking after its shareholders.] We also have: Stories you may have missed from yesterday:
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05 Feb 2025 4 min read
QuotedData’s morning briefing 5 February 2025 – TPOU, RKW, MGCI, JEMA, CGL, DGN, OIG, CREI, AIRE, LABS, THRL, HGEN
In QuotedData’s morning briefing 5 February 2025: Third Point Investors has published its investor letter for Q4 2024. Third Point’s flagship Offshore Fund achieved a 9.1% gain in Q4 2024 and 24.2% for the full calendar year. Returns for the full year were driven by positive results across all strategies, including equities, corporate and structured […]
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27 Dec 2024 5 min read
QuotedData’s review of the year 2024
This is the last of our weekly emails for 2024. We hope that you have been finding them useful. 2024 has been a year of setbacks and shrinkage for the UK investment companies industry, topped by the cynical and self-serving attack on seven trusts by US corporate raider Saba Capital (there will be much more […]
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17 Oct 2024 2 min read
Castlenau’s Dignity buys Augmentum Fintech’s Farewill
Dignity, the UK’s leading funeral services business is owned by Castlenau (see our interview on 4 October). It is buying Farewill, a company in Augmentum Fintech’s portfolio at a valuation for the entire business of £12.9m. Farewill, founded in 2015 by Dan Garrett (its current CEO) and Tom Rogers, offers a range of later-life products, […]
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26 Sep 2024 2 min read
QuotedData’s morning briefing 26 September 2024 – RMII, CGL, RNEW, RTW, LABS, PSDL
In QuotedData’s morning briefing 26 September 2024: RM Infrastructure Income (RMII) says its latest tender was taken up in full – 19,738,338 shares will be bought back at the tender price of 88.59p (equivalent to the NAV as at 30 August 2024). The money should be in your account on Monday. Iona Star LP, the […]
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19 Sep 2024 2 min read
QuotedData’s morning briefing 19 September 2024 – GABI, VNH, VEIL, CGL, NRR
In QuotedData’s morning briefing 19 September 2024: GCP Asset Backed Income Fund (GABI) announced its interim results for the six months to 30 June. The main development for the period was the decision to undertake a managed wind-down of the company and realise all existing portfolio assets. Strong progress was made in this regard with […]
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05 Jul 2024 1 min read
QuotedData’s weekly news show 5th July 2024
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, Matthew Read covered the week’s top stories: 0:00 Introduction 2:09 Tritax Eurobox 9:28 Castelnau 13:01 Andrew McHattie 13:22 Major Rises Over the Last Month 15:28 Major Fallers Over the Last Month 15:58 Technology Leading the Way 16:53 Technology Trusts 12-Months 18:17 […]
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1 min read
Castelnau Group jumps on Dignity announcement
Castelnau Group (CGL) is up more than 30% over the last five days thanks mostly to an announcement from portfolio company Dignity/Valderrama (which accounts for almost 80% of the trust), which was up 45.7% (with a NAV impact of 43.0%). The primary driver of this uplift is the reduction in net debt which has been […]
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31 May 2024 3 min read
Castelnau Group tweaks performance fee calculation
Castelnau Group’s (CGL’s) board has reviewed the performance fee arrangements under the investment management agreement that the trust has with Phoenix Asset Management Partners Limited (CGL’s investment manager) and has agreed what it describes as a number of minor amendments to the way the performance fee is calculated. No base management fee, management incentivisation all […]
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02 Feb 2024 4 min read
QuotedData’s morning briefing 2 February 2024 – AGA, GRID, HGT, BCPT, RGL, GCP, SHIP, GABI, VEIL, CGL
In QuotedData’s morning briefing 2 February 2024: On 1 February 2024, Apax XI Fund announced that it had closed the acquisition of WGSN, a consumer trend forecaster, from Ascential Plc. Apax Global Alpha (AGA), which is a limited partner in Apax XI, says that it has invested approximately €21.5m in WGSN on a look-through basis […]
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14 Sep 2023 2 min read
QuotedData’s morning briefing 14 September 2023 – CGL, SONG, RTW, FSFL, ASCI, BHMG, BCPT
Castelnau Group (CGL) announced the appointment of Richard Brown as non-executive director of the company and chief executive officer of Castelnau Group. A former investment banker, Richard has over 14 years of corporate finance experience. He has advised firms ranging from the largest FTSE 100 companies to private businesses, UK-focused as well as international. The […]
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19 Jul 2023 2 min read
QuotedData’s morning briefing 19 July 2023
Castelnau Group (CGL) announced that further to the issue of new ordinary shares in connection with its acquisition of Dignity, announced on 5 May 2023, the company will issue a further 7,479 ordinary shares in connection with the listed share alternative pursuant to the statutory squeeze out. The board of Strategic Equity Capital (SEC) has […]
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10 Jul 2023 3 min read
QuotedData’s morning briefing 10 July 2023
In QuotedData’s morning briefing 10 July 2023: Castelnau Group (CGL) has announced that it has purchased a 25% stake in Warlord Games, a historical table top wargame maker, through one of its portfolio companies, Hornby Hobbies. The transaction was made for £1.25m in cash. CGL has the option to become the majority shareholder in Warlord […]
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01 Jun 2023 1 min read
QuotedData’s morning briefing 1 June 2023
In QuotedData’s morning briefing 1 June 2023: ICG Enterprise (ICGT) has agreed a new €240m multicurrency revolving credit facility with SMC International and Lloyds Bank that matures on 30 May 2027 and costs 120 basis points (bps, equal to 1.2%) upfront, 115bps on undrawn amounts and 300bps over euro or sterling interest rate benchmarks (EURIBOR […]
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04 Apr 2023 2 min read
Concentration risk sinks Castelnau Group
Castelnau Group (CGL) announced its results for the 12-month period ending December 31 2022, concluding its first full year as a listed company. The NAV total return for the year was -19.81%, and the share price return was -34.6%, versus the benchmark FTSE All Share Total Return Index of +0.3%, a -20.1% relative underperformance of […]
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06 Mar 2023 3 min read
QuotedData’s morning briefing 6 March 2023
In QuotedData’s morning briefing for 6 March 2023: Life Settlement Assets (LSAA) has announced that it has received federal approval for the sale of the portfolio of life policies to Acheron Portfolio Trust. The portfolio was sold for a gross consideration of $24m, with transaction costs estimated to be $5m. Castelnau Group Limited (CGL) has […]
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02 Mar 2023 1 min read
QuotedData’s morning briefing 2 March 2023
Cordiant Digital Infrastructure (CORD) says portfolio company České Radiokomunikace (CRA) has signed a 5-year agreement with blue chip pay TV broadcaster AMC Networks International. The agreement, effective from 1 March 2023, allows AMC channels that were up to now only available on subscription or via the internet to be broadcast. This was enabled by CRA’s […]
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02 Feb 2023 2 min read
Castlenau publishes prospectus in connection with Dignity bid
On 23 January 2023, the boards of directors of Dignity and Yellow (SPC) Bidco Limited, a newly formed company indirectly owned or controlled by a consortium comprised joint offerors SPWOne V Limited, Castelnau Group Limited and Phoenix Asset Management Partners Limited announced that they had reached agreement on the terms of a recommended cash offer […]
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06 Jan 2023 2 min read
Castelnau doubling down on Dignity with revised possible offer of 525p in cash
Dignity Plc, the UK funeral services provider, which is Castelnau Group’s (CGL’s) largest holding, saw its share price jump following announcement on Wednesday 4th January, after the market had closed, that Dignity’s board was minded to recommend a revised possible offer from a consortium comprising SPWOne V Limited and Castelnau Group Limited. The offer is […]
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04 Nov 2022 2 min read
QuotedData’s morning briefing 4 November 2022
In QuotedData’s morning briefing 4 November 2022: Castelnau Group (CGL) has made a further investment in Ocula Technologies Holdings Ltd, a data sciences business in which it owns a majority stake. The additional investment of approximately £700,000 is part of a proposed additional funding round which it is hoped will see new, third-party investors become […]
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14 Oct 2022 1 min read
QuotedData’s morning briefing 14 October 2022
In QuotedData’s morning briefing 14 October 2022: Hipgnosis Songs Fund (SONG) has announced that it has appointed Singer Capital Markets Securities Limited to manage an “irrevocable share repurchase programme” to buy back ordinary shares within certain pre-set parameters. The Share Purchase Programme will commence today and will run until 8 December 2022. Castelnau Group (CGL) […]
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11 Apr 2022 2 min read
QuotedData’s morning briefing 11 April 2022
In QuotedData’s morning briefing 11 April 2022: Foresight Solar (FSFL) has reached final approval for the portfolio refinance of the Oakey 1 Solar Farm (O1) and Longreach Solar Farm (LR) portfolios with ANZ and Deutsche Bank for a term facility of approximately A$59m plus a debt service reserve facility of approximately A$1m. The portfolio will […]
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16 Nov 2021 3 min read
QuotedData’s morning briefing 16 November 2021
In QuotedData’s morning briefing 16 November 2021: International Public Partnerships (INPP) says that the consortium that it is a member of (alongside Amber Infrastructure Group and Transmission Investment) now owns the 400MW Rampion offshore wind farm transmission link. The offshore wind farm is located approximately 13km off the Sussex coast and consists of 116 x […]
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11 Nov 2021 2 min read
QuotedData’s morning briefing 11 November 2021
In QuotedData’s morning briefing 11 November 2021: Third Point Investors (TPOU) looks sets to benefit from the IPO of Rivian Automotive. It invested $10m in the electric vehicle maker in January 2021, followed by a subsequent $167m investment in the company’s convertible note financing in July 2021. Third Point added to its position in the […]
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15 Oct 2021 1 min read
QuotedData’s weekly news show 15 October 2021
QuotedData’s weekly news show 15 October 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Gresham House Strategic • Castlenau Group • Artemis Alpha This week’s interview was with Nicholas Yeo of […]
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3 min read
QD view – And now a look at what’s coming up
There’s a fair bit of activity in the investment companies IPO market at the moment. Existing funds are raking in cash too and fighting for attention can be hard. This week saw the successful launch of Castlenau Group (a fund investing in UK companies that bears a lot of similarity with Aurora Investment Trust, not […]
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14 Oct 2021 1 min read
Castlenau launch goes to plan
Castlenau launch goes to plan – Castelnau Group Limited, a new investment company established to invest in public and private companies with the aim of outperforming the All Share on a total return basis over the long term, has successfully raised gross proceeds of £53.1m from its initial issue of shares. A substantial part of the […]
