In QuotedData’s morning briefing 16 January 2023: ThomasLloyd Energy Impact Trust (TLEI) has announced that it has successfully completed the acquisition of the remaining 57% economic interest in SolarArise India Projects Private Limited, taking its total ownership to 100%, having purchased the initial 43% in August 2022. The consideration of $38.5m was funded from existing […]
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: • Digital 9 Infrastructure (0:47) • AT85 Infrastructure (11:51) This week’s interview was with Thao Ngo from Vietnam Enterprise – watch it again here. previous […]
A defining feature of 2022 was the strength of the US dollar, which shaped asset class returns for many investors over the year. The slump in the yen grabbed fewer headlines, but has been an important factor for the performance of Japanese equities. Its reversal may drive Japan’s financial markets in the year ahead. At […]
Apax Global Alpha (AGA) has announced that the Apax VIII Fund, in which AGA is a limited partner, has announced that its portfolio company Duck Creek Technologies has entered into a definitive agreement to be acquired by Vista Equity Partners for US$19.00 per share in cash. The transaction values AGA’s current look-through investment in Duck […]
In QuotedData’s morning briefing 13 January 2023: Marble Point Loan Financing says that Investcorp, a leading global alternative investment firm, has effective today acquired Marble Point Credit Management LLC, the fund’s investment manager. We also have news of a disposal by Apax
Supermarket Income REIT has acquired a further 25.5% stake in a portfolio of Sainsbury’s supermarkets for £196m, resulting in its ownership of the joint venture increasing to 51%. The company bought the stake in the joint venture portfolio of 26 stores from British Airways Pension Trustees Limited. The remaining 49% interest in the portfolio is […]
In QuotedData’s morning briefing 12 January 2023: Marwyn Value Investors has recognised a further £5m of recoverable VAT in its NAV (relating to its historic investment in Praesepe, as before). £4.33m or 7.8p per share is added to the ordinary share NAV, £0.53m or 56.7p is added to the 2016 realisation share NAV and £0.03m […]
Digital 9 Infrastructure (DGI9) has released a trading update that covers its performance to the 30 September 2022. The key highlights are as follows: The Group’s diversified portfolio of eight high-quality data centre, subsea fibre, and wireless network assets (together, the “Investee Companies”) has performed strongly during the period to 30 September 2022. The Company […]
In QuotedData’s morning briefing 11 January 2023: PRS REIT (PRSR) provided a trading update for the quarter to 31 December 2022 in which it completed 57 new rental homes brining the company’s portfolio to 4,913 as at 31 December 2022. The delivery programme is around 85% complete, with 613 additional homes contracted and at various […]
AT85 Global Mid-Market Infrastructure Income, which published an intention to float announcement on 21 November 2022 but then postponed the publication of its prospectus given the turmoil in markets, is now ready to push the button on its IPO. It is looking for £300m to invest in a portfolio of midmarket core-plus essential infrastructure or […]
Unite Students, the owner, manager and developer of student accommodation, has said that earnings for 2022 will be at the top end of its guidance of 40-41p per share, with a total accounting return of 8%. Higher than expected rental income in term one of the 2022/23 academic year more than offset the impact of […]
Impact Healthcare REIT has acquired a portfolio of six care homes for £56m, which will partly be paid in cash and partly with an issue of new shares to the vendor Morris Care Limited. The portfolio has 438 beds, of which 400 have en suite bathrooms, with five homes in Shropshire and one in Cheshire. […]
NextEnergy Solar has a $50m commitment to NextPower III ESG which is getting closer to being fully invested. It has just announced its first strategic solar and battery storage acquisitions in Greece. The acquisitions include six utility-scale solar PV projects totalling 132MWp, and a majority in six standalone battery storage projects totalling 400MW. NextEnergy Group, […]
In QuotedData’s morning briefing 10 January 2023: Ben Durrant has been made deputy portfolio manager of Pacific Horizon (PHI). Ben is an investment manager in Baillie Gifford’s Emerging Markets Equity Team. He joined Baillie Gifford in 2017 having previously worked for RBS in its Group Strategy and Corporate Finance Team. Prior to re-joining the Emerging […]
In QuotedData’s morning briefing 9 January 2023: Downing Strategic Micro-Cap (DSM) has announced a cash exit facility, share buybacks, and subsequent strategic review. The board has previously announced its intention to offer shareholders a 50% share redemption opportunity in May 2024 at NAV. Should the cash exit facility be fully subscribed and, as a result, […]
Henderson Diversified Income (HDIV) has released its interim results for the six-months ended 31 October 2022. Over the period, Henderson Diversified generated a NAV total return of -10.4% and a share price total return of -10.6%, compared to the -6.9% of its benchmark (a blend of 60% global high yield credit, 25% global investment grade […]
One of the worst performing sectors in 2022 was property as the cheap borrowing taps were turned off and an abrupt end of a decade of quantitative easing saw interest rates and market expectations jump above prime property yields. It sent the share prices of most real estate investment trusts (REITs) on a downward spiral […]
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 […]
The transition to electric transportation is key for tackling climate change. Scottish Mortgage’s Claire Shaw discusses how challenges facing this sector make battery recycling companies like Redwood Materials worth investing in. Capital at risk. Watch the film
The transition to electric transportation is key for tackling climate change. Scottish Mortgage’s Claire Shaw discusses how challenges facing this sector make battery recycling companies like Redwood Materials worth investing in. Capital at risk. Watch the film
Riverstone Credit Opportunities Income (RCOI) has made a new four-year US$150m sustainability-linked first lien term loan to NASDAQ listed Clean Energy Fuels Corp (CLNE) (cleanenergyfuels.com), which produces natural gas from animal waste and landfill containing organic matter. The floating rate loan has a maturity of 22 December 2026 with an all-in yield to maturity of […]
In QuotedData’s morning briefing 4 January 2023: On 30 December 2022 Alvarium RE Limited entered into an agreement to sell Alvarium Home REIT Advisors Limited (AHRA), the investment advisor to Home REIT (HOME), to a newly formed entity owned by the management of AHRA funded by way of a promissory note. These arrangements were made […]
Happy New Year to our readers. In QuotedData’s morning briefing 3 January 2023: Tufton Oceanic Assets (SHIP) has agreed to sell its last containership, the Riposte, for $13.0m (about equal to its depreciated replacement cost), following which its fleet will consist of twenty-two vessels. The realised net IRR on the Riposte exceeds 12%. In aggregate, the […]
In QuotedData’s morning briefing 29 December 2022: PRS REIT (PRSR) has secured a short-term extension to its £150m revolving credit facility with Lloyds / RBS, which matures in February 2023. The extension has been secured for the period to 14 July 2023 at the same margin above the three-month SONIA rate as the existing arrangements. […]
In QuotedData’s morning briefing 28 December 2022: Literacy Capital (BOOK) has completed the sale of its entire interest in Hometree, generating £3.8m for the trust. This represents a 1.3x return on BOOK’s investment. The cash was used to pay down borrowings and will be recycled in new investments in due course. Richard Pindar, director of […]
This time last year we highlighted climbing inflation and interest rates as issues overhanging markets. However, those headwinds were much stronger than we had anticipated thanks to Russia’s invasion of Ukraine. Given that backdrop, it was perhaps inevitable that markets would struggle in 2022. There were a few bright spots – Latin America and the […]
Bluefield Solar Income Fund (BSIF) has acquired a 46.4 MWp solar portfolio that comprises two large ground mounted solar assets located in Cumbria, in the UK. Both are 1.4 ROC assets that have been operational since 2015 and approximately 60% of their projected revenues are contracted and regulated. The larger of the two assets is […]
Activist investment fund, Crystal Amber (CRS) has sent the board of Hurricane a requisition notice requiring Hurricane to convene a general meeting at which resolutions will be proposed to remove six directors and appoint two new directors. The directors that CRS proposes removing are executives Antony Maris and Richard Chaffe, Non-Executive Chairman, Philip Wolfe and, […]
Aquila European Renewables (AERI) has announced that Jaén, a 50 MWp solar PV asset located in southern Spain that is part of the Greco portfolio, has completed construction and is now operational. Jaén was acquired, in full, in March 2022 and following the completion of the project, AERI has paid consideration of €42.5m to the […]
In QuotedData’s morning briefing 23 December 2022: Schroder European Real Estate (SERE) has completed the early refinancing of its largest debt expiry in 2023, a €14m loan with VR Bank Westerwald, secured against its Hamburg and Stuttgart office investments. SERE says that competitive financing terms were obtained from five different lenders with VR Bank Westerwald […]
