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29 Jun 2022

Africa Opportunity announces mandatory redemption of shares

Africa Opportunity announces mandatory redemption of shares – Africa Opportunity (AOF) has announced a mandatory redemption of shares via an initial capital distribution in respect of its ordinary shares of US$0.01 each. The trust has benefited from realisations from its underlying portfolio and has resolved to return a total of $4.5m to AOF ordinary shareholders. […]

29 Jun 2022

Asset Value Investors raises concerns over Fujitec board’s actions

Asset Value Investors raises concerns over Fujitec board’s actions – Asset Value Investors, manager of AVI Japan Opportunity (AJOT) and AVI Global Trust (AGT) has called into question the credibility of Fujitec’s current board following its failure to hold former President Takakazu Uchiayma to account for decades of related-party transactions and after the debacle at Fujitec’s AGM where, […]

29 Jun 2022

VH Global Sustainable Energy Opportunities raises £122m which it hopes to commit within three to six months

VH Global Sustainable Energy Opportunities raises £122m which it hopes to commit within three to six months – VH Global Sustainable Energy Opportunities (GSEO) has successfully completed its Placing, Open Offer, Offer for Subscription and Intermediaries Offer, raising gross proceeds of £122m. A total of 110,909,091 new shares will be issued at a price of […]

29 Jun 2022

QuotedData’s morning briefing 29 June 2022

In QuotedData’s morning briefing 29 June 2022: Tufton Oceanic Assets (SHIP) has applied to introduce an additional market quote for its shares on the London Stock Exchange denominated in GBP Sterling, which will appear alongside the existing US Dollar market quote. There will be no changes to the legal form or nature of SHIP’s shares […]

28 Jun 2022

Future of Private Investing virtual event – Video Playback Now Available

The Investors’ Chronicle held their Future of Private Investing virtual event on 15 – 16 June 2022. The two-day digital event brought together experts from the financial industry, from advisors to fund managers, to share exclusive insights and key trends for investors in the months to come. In the post pandemic world, which industry are […]

28 Jun 2022

NextPower III ESG has over 1GW of capacity

NextPower III ESG, the international private solar fund backed by NextEnergy Solar Fund (NESF) and others, is buying two 100MW solar projects in Lake Placid, Florida. This deal takes the fund’s total capacity in the USA to 397MW. The two 100MW solar projects will benefit from long-term Power Purchase Agreements (PPAs) for 100% of their […]

28 Jun 2022

QuotedData’s morning briefing 28 June 2022

In QuotedData’s morning briefing 28 June 2022: Pharmakon Advisors, the investment manager of BioPharma Credit (BPCR)  says that it notes the announcement released yesterday by Ipsen regarding its planned purchase of Epizyme Inc. BioPharma Credit has a $110m investment in a senior secured loan to Epizyme which would be prepaid upon the closing of the […]

27 Jun 2022

Impressive results from NextEnergy Solar

NextEnergy Solar Fund reports that, for the 12 months ended 31 March 2022 it produced: a 14.6p (c.15%) increase in its NAV to 113.5p, contributing to a total return on NAV of 22.0% a return to shareholders of 11% [a discount opened up on the shares that is out of line with competing funds and […]

27 Jun 2022

Aquila European updates on Albeniz and The Rock

Aquila European Renewables Income Fund says that, with energisation completed, its Albeniz asset is now fully operational and producing revenue. Albeniz is a 50 MWp solar PV project located in the south of Spain acquired in December 2020. The asset is expected to have an operating life of 30 years after commissioning. Albeniz benefits from […]

27 Jun 2022

Pantheon Infrastructure buys US power company

Pantheon Infrastructure has invested approximately $58m (£47.3m at current exchange rates) in independent US power producer Calpine Corporation. Calpine Corporation is one of the largest generators of electricity from natural gas and geothermal resources in the US, with operations across the CAISO (California), ERCOT (Texas), and PJM (13 states and the District of Columbia) power […]

27 Jun 2022

Taylor Maritime sells one vessel and cancels sale of another

Taylor Maritime Investments has agreed to sell a 2009 built Handysize vessel for proceeds of $17.2m. The vessel was an IPO seed asset and the sale is expected to complete before the end of August 2022, generating an IRR of 80% and MOIC of 1.9x.  This represents an 8% premium to the 31 March 2022 […]

27 Jun 2022

Digital 9 buying Arqiva stake

Digital 9 Infrastructure has agreed the terms of an acquisition of a 48.02% voting stake in Arqiva Group Limited. The completion of the acquisition is subject to customary regulatory approvals, and it will be funded through a combination of £300m in cash and a £159.3m (not £135.5m – the two announcements this morning don’t tie up) […]

27 Jun 2022

QuotedData’s morning briefing 27 June 2022

In QuotedData’s morning briefing 27 June 2022: We have news of an acquisition and fundraise by Digital 9 Infrastructure, portfolio updates from Taylor Maritime and Aquila European Renewables, a new investment for Pantheon Infrastructure, and full year results from NextEnergy Solar. previous story | next story

24 Jun 2022

QuotedData’s weekly news show 24th June 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 and Richard Williams covered the week’s top stories: • Triple Point Energy Efficiency • Trian 1 • Urban Logistics This week’s interview was with Pedro Gonzalez de Cosio, manager of […]

24 Jun 2022

QD view – Discounted opportunity – Not all private equity is exuberant growth plays

If investors listened to the headlines, they would be understandably nervous about the prospects for private equity. Vincent Mortier, chief investment officer of Amundi, the largest asset manager in Europe, described parts of the industry as a “Ponzi scheme”[1], while former Pimco chief Mohamed El-Erian also raised concerns about the sector, notably its claims to […]

24 Jun 2022

Foresight Sustainable Forestry raises £45m

Foresight Sustainable Forestry (FSF) has announced that its fundraise, which was announced on 14 June 2022, has raised gross proceeds £45m. FSF says that 38,002,022 new ordinary shares will be issued pursuant to the Placing, and 4,054,052 New Ordinary Shares will be issued pursuant to the Offer for Subscription. The issue price is 107 pence […]

24 Jun 2022

Triple Point Energy Efficiency Infrastructure to focus on energy transition

Triple Point Energy Efficiency Infrastructure (TEEC) has announced that its board has initiated a consultation process with a number of key shareholders regarding potential amendments to TEEC’s investment policy and, related to that, a change to the Company’s name. Separately, the company has also announced its annual results for the year ended 31 March 2022 […]

24 Jun 2022

Montanaro European Smaller Companies “unremarkable results disguise significant volatility”

Montanaro European Smaller Companies (MTE) has announced its annual results for the year ended 31 March 2022, during which it provided NAV and share price total returns of 8.4% and 4.8% respectively, outperforming its benchmark, which returned 3.8%. The trust’s chairman, R M Curling, says that while these headline numbers might appear unremarkable, they disguise […]

24 Jun 2022

Aquila Energy Efficiency results address disappointing deployment

Aquila Energy Efficiency Trust (AEET) has announced its final results for the year ended 31 December 2021, during which it provided NAV and share price total returns of -0.6% and -4.3% respectively. AEET’s chair, Miriam Greenwood OBE DL, says that despite the optimism at the time of AEET’s flotation in June 2021, deployment of monies […]

24 Jun 2022

QuotedData’s morning briefing 24 June 2022

In QuotedData’s morning briefing 24 June 2022: Literacy Capital (BOOK) has announced that it has received approval as an investment trust, with effect from its accounting period commencing on 1 April 2022. Augmentum Fintech (AUGM) has announced that, following the publication of its annual results on 4 July 2022, it will be holding a capital […]

23 Jun 2022

Urban Logistics REIT doubles in size in transformational year

Urban Logistics REIT doubles size of portfolio in “transformational year” and reports a 23.9% uplift in NAV. The group, which raised £358m of equity, moved to the main market and was included in the FTSE 250 index in the 12 months to 31 March 2022, said its portfolio of mid-box urban warehouses was now valued […]

23 Jun 2022

Oakley Capital sells facile.it

Oakley Capital Investments says that Oakley Capital Fund III has reached an agreement to sell its stake in Facile.it, Italy’s largest online price comparison platform to Silver Lake. The trust’s share of proceeds will be about £53m. The price represents about a 23% premium to the 31 March 2022 carrying value, and adds about 6 […]

23 Jun 2022

Growth selloff hits JPMorgan Japan Small Cap

JPMorgan Japan Small Cap Growth and Income reports that, for the 12 months ended 31 March 2022, it produced an NAV return of -24.6% and a return to shareholders of -23.3%. These compare to a return of -8.1% for the benchmark, the MSCI Japan Small Cap Index. The chairman says that “This underperformance was the […]

23 Jun 2022

Rockwood Strategic well ahead of benchmark in turbulent year

Rockwood Strategic, which had a turbulent financial year over the 12 months ended 31 March 2022, managed to produce an NAV return of 27.5% for the period, well ahead of the 3.2% return on the Small Cap Index. The return to shareholders was 22.2%. The board believes that, until the company has gained greater scale, […]

23 Jun 2022

QuotedData’s morning briefing 23 June 2022

In QuotedData’s morning briefing 23 June 2022: BlackRock World Mining Trust (BRWM) says that the up coming IPO of Ivanhoe Electric Inc. on Friday, 24 June 2022 would, at the mid-point of the announced IPO valuation range, add about 1.4% to its NAV. The trust’s investment consists of common shares of Ivanhoe Electric Inc. and […]

22 Jun 2022

Ecofin US Renewables publishes trading update

Ecofin US Renewables has published trading update ahead of today’s AGM. It says that the US renewable energy industry continues to offer bright prospects for ongoing investment and growth, even while facing the near term challenges of supply chain constraints, inflation, and a trade dispute on imported solar products. In the first quarter of 2022, […]

22 Jun 2022

Impact Healthcare REIT announces capital raise

Care home provider Impact Healthcare REIT has announced its intention to issue new equity to acquire an identified pipeline of care homes. The company proposes raising new equity through a placing under its existing placing programme and in addition an offer for subscription to raise up to the Sterling equivalent of €8m. The size of […]

22 Jun 2022

AEW UK REIT posts 29.7% total return

AEW UK REIT delivered a NAV total return of 29.7% for the year to 31 March 2022, helped by a large increase in the value of its portfolio. The small cap, diversified property company posted a 21.7% uplift in NAV over the year to 120.63p per share (2021: 99.15p), as the economy re-opened following pandemic […]

22 Jun 2022

QuotedData’s morning briefing 22 June 2022

In QuotedData’s morning briefing 22 June 2022: Harmony Energy Income Trust (HEIT) has agreed a debt facility of £60m with NatWest Plc. The five-year facility has an initial margin of 300bps (3%) over SONIA, rising over time to a maximum of 375bps by year five, but is interest-only for the first three years. There is […]

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