Overview
CIP Merchant Capital : CIP aims to generate returns for its shareholders through investment in listed equity and other financial products and instruments using a private equity approach. The fund will be applying an active management approach – through due diligence, acquiring influential minority stakes (5-25%) and board representation where appropriate. Key investment targets will be predominantly listed companies (equity or similar instruments) with a market capitalisation of <£500m deemed to be undervalued and which are often below the radar of larger institutional investors. The company has flexible mandate that will also allow it to invest in unlisted companies and other similar funds.
The company was incorporated as a vehicle through which to exploit the expertise of Merchant Capital Manager Limited, an affiliate of Continental Investment Partners SA. The lead managers, Marco Fumagalli and Carlo Sgarbi, used to work together at a Swiss family office. they both sit on the board of CIP Merchant Capital as non-independent directors.
You can access the company’s website here
Research History
-
24 Jan 2020 20 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
-
06 Dec 2019 6 min read
QuotedData’s investment companies roundup – December 2019
Investment Companies Roundup Kindly sponsored by Baillie Gifford Table of contents New research In this issue Performance data Discounts and premiums Money in and out Income Events New research Here is a list of research we published over November: An initiation note on Henderson High Income “We have initiated coverage on Henderson High Income (HHI). Since […]
-
07 Oct 2019 6 min read
QuotedData’s economic roundup – October 2019
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
-
11 Sep 2019 3 min read
QuotedData’s investment companies roundup – September 2019
Investment Companies Roundup Kindly sponsored by Baillie Gifford New research Over August, we published notes on Aberdeen Emerging Markets and JLEN Environmental Assets . You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – appetite for risk was generally down in August, as […]
-
22 Mar 2019 1 min read
QuotedData’s investment companies roundup – March 2019
QuotedData’s investment companies roundup – March 2019 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2019. Kindly sponsored by Baillie Gifford. JPMorgan Chinese, Fidelity China and Pacific Horizon benefited from a booming Chinese market in […]
-
19 Dec 2018 1 min read
QuotedData’s investment companies roundup – December 2018
QuotedData’s investment companies roundup – December 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of November 2018. Kindly sponsored by Baillie Gifford. Extract from ‘winners and losers’ The Californian wildfires took their toll on CatCo Reinsurance as it […]
-
16 Oct 2018 2 min read
Quarterly Investment Companies Roundup – Third Quarter 2018
Quarterly Investment Companies Roundup – Third Quarter 2018 Global equities delivered positive returns over the third quarter of 2018. This was principally because of strength in the US market. Political uncertainty and concerns about global trade held back other regions. Generally, government bond yields rose over the quarter. The UK equity market fell as the Bank of […]
-
25 Apr 2018 1 min read
Quarterly investment companies roundup – First quarter 2018
Quarterly investment companies roundup – First quarter 2018 Quarterly investment companies roundup – First quarter 2018 – Global equity markets declined in the first quarter of 2018. Concerns about US interest rate rises were the feature of the first half of the quarter. However, worries about global trade took over in the second part, particularly […]
-
07 Feb 2018 2 min read
QuotedData investment companies roundup – February 2018
QuotedData investment companies roundup – February 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of January 2018. Kindly sponsored by Baillie Gifford. The oil price was up again over the month and this helped propel […]
-
18 Jan 2018 1 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
News
-
09 May 2022 1 min read
QuotedData’s morning briefing 9 May 2022
In QuotedData’s morning briefing 9 May 2022: CIP Merchant Capital (CIP) has applied for the cancellation of admission to trading on AIM of its ordinary shares.This follows the announcements on 1 and 20 April 2022 by Corporation Financière Européenne declaring its final offer for CIP to be wholly unconditional and confirming that there would be […]
-
13 Apr 2022 2 min read
QuotedData’s morning briefing 13 April 2022
In QuotedData’s morning briefing 13 April 2022: ICG Enterprise Trust notes that New Mountain Capital is merging Information Resources Inc., which the trust holds and invested $15m into in 2018, with The NPD Group, a global provider of market information and advisory services, with a client base of over 2,000 companies, in Hellman & Friedman’s […]
-
01 Apr 2022 3 min read
Final update on offer for CIP Merchant Capital
Corporation Financiere EuropeenneSA (CFE) has provided a final offer update on its cash offer for CIP Merchant Capital (CIP); an offer that CIP’s board has previously rejected, having described it as “Highly opportunistic” – click here to read our article from 23 March 2022 which covered the rebuttal of this final offer. Separately, CIP’s board […]
-
2 min read
QuotedData’s morning briefing 1 April 2022
In QuotedData’s morning briefing 1 April 2022: Syncona (SYNC) has provided an update on investee company Freeline, following the publication of Freeline’s full year 2021 financial results. The update highlights that: Phase 1/2 programs on track in Hemophilia B and Gaucher disease and accelerated in Fabry disease Extended financial runway and streamlined organization support Company […]
-
31 Mar 2022 1 min read
QuotedData’s morning briefing 31 March 2022
In QuotedData’s morning briefing 31 March 2022: HICL Infrastructure plans to sell its 100% interest in the Queen Alexandra Hospital PFI Project to InfraRed European Infrastructure Income Fund 4. HICL would get £108m and a 1.5p increase in its NAV. The hospital has over 7,200 staff and 1,200 beds, that serves over 675,00 residents across […]
-
23 Mar 2022 5 min read
CIP Merchant Capital rejects Corporation Financière Européenne’s ‘highly opportunistic’ final takeover offer
CIP Merchant Capital rejects Corporation Financière Européenne’s ‘highly opportunistic’ final takeover offer – Following a bid approach from Corporation Financière Européenne S.A. (CFE) which we reported earlier this year, CIP Merchant Capital (CIP), having duly considered the final offer and consulted with its financial adviser, has, once again, unanimously and unequivocally rejected the final offer. […]
-
17 Mar 2022 2 min read
QuotedData’s morning briefing 17 March 2022
In QuotedData’s morning briefing 17 March 2022: Gulf Investment has published details of the 100% tender offer that it promised investors late last year. Shareholders will need to be on the share register at 5:30pm on 21 March and tender forms must be submitted by 1pm on 31 March. The fund will be valued as […]
-
28 Jan 2022 1 min read
QuotedData’s weekly news show 28th January 2022
QuotedData’s weekly news show 28th January 2022 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: • Foresight Sustainable Forestry • CIP Merchant Capital • Standard Life Private Equity This week’s interview was with […]
-
27 Jan 2022 3 min read
QuotedData’s morning briefing 27 January 2022
In QuotedData’s morning briefing 27 January 2022: ICG Enterprise Trust (ICGT) is investing in Brooks Automation alongside funds advised by Thomas H. Lee Partners. The trust has an investment in THL Fund IX and will have exposure to the deal that way, but it will also make a direct investment in Brook Automation. Altogether – […]
-
17 Jan 2022 1 min read
CIP Merchant Capital gets new bid approach
The board of directors of CIP notes the announcement made at 4.25 p.m. on 14 January 2022 by Corporation Financière Européenne S.A. (CFE) regarding a mandatory cash offer (under Rule 9 of the City Code on Takeovers and Mergers), for all of CIP’s ordinary shares not already held by CFE. The offer price is 55p […]
-
15 Dec 2021 2 min read
QuotedData’s morning briefing 15 December 2021
In QuotedData’s morning briefing 15 December 2021: Dunedin Enterprise (DNE) has announced regulatory approval has now been granted for the partial realisation of GPS, which is held via DNE’s interest in Dunedin Buyout Fund III LP. Proceeds now received from the transaction amount to £18.2m, consisting of capital of £15.8m and income of £2.4m. In […]
-
29 Jul 2021 1 min read
QuotedData’s morning briefing 29 July 2021
In QuotedData’s morning briefing 29 July 2021: Chrysalis Investments (CHRY) has sold its stake in Embark Group to Scottish Widows, part of Lloyds Banking Group for £390m. Existing shareholders of Embark, including Chrysalis, will retain its Rowanmoor SIPP and SSAS administration business. Chrysalis first invested in Embark in July 2019 and invested further follow-on capital in May 2020. […]
-
15 Jun 2021 2 min read
QuotedData’s morning briefing 15 June 2021
In QuotedData’s morning briefing 15 June 2021: RTW Venture, who we had on the weekly show last Friday, said yesterday that it is planning to issue new ordinary shares at a price of US$2.07. This is an 11.9% premium to the last NAV. The results of this should be out later today. CIP Merchant Capital (CIP) has […]
-
15 Apr 2021 1 min read
QuotedData’s morning briefing 15 April 2021
In QuotedData’s morning briefing 15 April 2021: Tufton Oceanic (SHIP) has acquired a Handysize Bulk Carrier for $14.3m. The vessel has a fixed rate time charter for eleven to thirteen months to a large maritime transport and logistics company. In addition, the Containership Swordfish has a new fixed rate time charter for fifteen to seventeen months from the […]
-
12 Apr 2021 2 min read
QuotedData’s morning briefing 12 April 2021
In QuotedData’s morning briefing 12 April 2021 – Jupiter US Smaller Companies (JUS) has released a circular to its shareholders proposing a change in its name to Brown Advisory US Smaller Companies, both to reflect the identity of its new manager and to assist in marketing the company under its new management. JUS made the following […]
-
02 Mar 2021 2 min read
QuotedData’s morning briefing 2 March 2021
In QuotedData’s morning briefing 2 March 2021: Syncona (SYNC) notes that Achilles Therapeutics, a clinical-stage biopharmaceutical company developing precision T cell therapies to treat solid tumours, announced it has filed a registration statement in relation to a proposed IPO. Syncona owns 44% of Achilles which it values at £72.4m. RTW Venture Fund (RTW) participated in a Series […]
-
23 Feb 2021 1 min read
QuotedData’s morning briefing 23 February 2021
In QuotedData’s morning briefing 23 February 2021: Sequoia Economic Infrastructure Income Fund says that it plans to raise up to a maximum of £172.9m by issuing up to 164,312,714 new ordinary shares at 105.25p. The price is a 4.0% premium to NAV and a discount of 2.7% to the closing price of 108.2p last night. The proceeds […]
-
15 Feb 2021 2 min read
QuotedData’s morning briefing 15 February 2021
In QuotedData’s morning briefing 15 February 2021: Tritax EuroBox (EBOX) has sold its asset in Lodz, Poland for €65.5 million, 15% above its most recent valuation at 30 September 2020 and, based on the company’s target gearing of 45%, delivering an attractive geared IRR of 16.5% to shareholders. They bought this is April 2019 and completed a […]
-
27 Jan 2021 2 min read
QuotedData’s morning briefing 27 January 2021
In QuotedData’s morning briefing 27 January 2021 – Henderson Smaller Companies (HSL) delivered total NAV and share price returns of 20.6% and 27.7% over its six-months interim results period to 30 November 2020. HSL said that its NAV performance was 6.3% ahead of the average of our peers in the AIC UK smaller companies sector. 3i […]
-
01 Sep 2020 1 min read
QuotedData’s morning briefing 1 September 2020
In QuotedData’s morning briefing 1 September 2020: CIP Merchant Capital has sold its interest in Circassia Group, a specialty biopharmaceutical company focused on respiratory diseases and quoted on AIM, for approximately £3.9m, resulting in a net profit of £1.1m. Circassia is the first investment that CIP Merchant Capital has sold. It made a 1.4 times cash on […]
-
27 Jul 2018 1 min read
CIP Merchant Capital turns to Alkemy
CIP Merchant Capital turns to Alkemy – CIP Merchant Capital has made an investment in Alkemy SpA, which it describes as a leading company in the innovation of business models for large and medium-sized companies to improve their market position and competitiveness. Alkemy listed on the AIM Italia market of Borsa Italiana in December 2017, raising in […]
-
16 Jul 2018 1 min read
CIP Merchant Capital makes its second investment
CIP Merchant Capital makes its second investment – CIP Merchant Capital has announced an investment in Orthofix International NV, a global medical device corporation focused on musculoskeletal healing products and value-added services traded on the Nasdaq Global Select Market. The company has bought, in aggregate, 85,000 common stock in Orthofix for a total consideration of approximately US$5 million. […]
-
23 Jan 2018 2 min read
CIP Merchant Capital takes Saffron Energy stake
CIP Merchant Capital takes Saffron Energy stake – CIP Merchant Capital has made its first investment following its admission to trading on AIM in December 2017, agreeing to subscribe for, in aggregate, GBP6.0 million worth of shares in Saffron Energy Plc. Saffron is an AIM quoted European gas company with interests in Northern Italy. It is […]