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Investment trust insider on AT85

Investment Trust Insider on Perpetual Income and Growth

Investment trust insider on AT85 – James Carthew: AT85 braves IPO as infrastructure recovers

Fundraising in the investment company sector ran into the sand over the summer, culminating with Pantheon Infrastructure (PINT) pulling its planned C-share offer.

PINT had a very successful flotation, raking in £400m a little over a year ago versus a target of £300m. The investment trust has grown since, as the subscription shares issued at launch have been exercised, raising over £80m. Nevertheless, by September this year £344m had been committed or invested and a further £170m worth of deals had been lined up. Unfortunately, the ‘mini’-Budget killed the C-share issue as the share price dived in the ensuing market volatility.

I have little doubt PINT will be back again soon – it helps that the discount is now just 1.5% – but in the meantime, an investment company that it elbowed out the way at the time of its initial public offer (IPO) is back for a second go, albeit in a new guise.

I wrote about Alinda Capital Infrastructure Investments last October. To be honest, at the time I thought that it was more likely to be successful. It was targeting a higher yield than PINT and…   read more here

 

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