The riot in the Capitol Building may be dominating headlines but hopefully the orange cloud over Washington may soon dissipate. Does that mean Nothin’ but blue skies from now on…? For investors, one of the key events if 2021 to date may be the Democrat’s wins in the Georgia senate races. Joe Biden will now have […]
Secure Income REIT has announced it has collected 98.6% of rents due for the first quarter of 2021. The company said this included rent due from Alton Towers owner Merlin Entertainments, following the end of their six month rent deferral period, and the new contractual rents agreed with Travelodge. The deferred rent from Merlin for […]
In QuotedData’s morning briefing 8 January 2021: The Schiehallion Fund has announced that it is considering an issue of C shares to institutional and professional investors at a price of US$1.00 per C share. The company says that the size of the issue is still to be determined, but it does not currently expect that the […]
Oakley Capital’s Daisy Group sells Digital Wholesale Solutions – Oakley Capital Investments says its Oakley Capital Fund II portfolio company, Daisy Group, has reached an agreement to sell its stake in its Digital Wholesale Solutions division. The transaction is subject to regulatory approval. The trust’s share of proceeds will be about £22m, which represents about a […]
RTW makes new investment in Biomea Fusion – RTW Venture Fund, alongside other investment vehicles of RTW Investments, LP – its investment manager – and other investment firms, has participated in a $56m Series A financing round for Biomea Fusion. Biomea is a US-based privately held precision oncology company dedicated to developing innovative medicines targeting specific […]
Riverstone Credit updates on deals – Riverstone Credit Opportunities Income has originated one new investment and realised some or all of a number of existing investments. New Deal Activity § Project Mirror – RCOI participated in a $20.0 million first lien delayed-draw term loan to a community solar development company. Led by operating partners of a […]
In QuotedData’s morning briefing 7 January 2021, as the Democrats win control of the Senate and the US Capitol building is invaded, the news in the investment companies industry is a bit more mundane: Hipgnosis Songs has entered into an agreement with a syndicated group of lenders, with JPMorgan Chase Bank as lead arranger, to increase its […]
Hipgnosis Songs (SONG) has acquired 50% of Neil Young’s worldwide copyright and income interests in his entire song catalogue comprising 1,180 songs. ‘Neil Young rose to prominence in the ’60s and ’70s and is widely considered one of the most important and influential songwriters of all time’ Merck Mercuriadis, SONG’s founder, said: “I bought my first […]
In QuotedData’s morning briefing 6 January 2021 – Middlefield Canadian Income (MCT) noted that one of its recently acquired holdings, Brookfield Property Partners, is to be taken private in a US$5.9bn deal for the remaining 40% stake not owned by Brookfield Asset Management and a group of investors Hg Capital Trust (HGT) is to invest around £15.7m in […]
Hipgnosis now owns 100% of Fleetwood Mac’s Lindsey Buckingham’s catalogue – Hipgnosis Songs Fund has acquired a catalogue from Lindsey Buckingham, best known as the lead guitarist and vocalist of Fleetwood Mac. Hipgnosis had bought a 25% share in this catalogue on 30 September 2020 and now owns 100% of Lindsey Buckingham’s music publishing rights, including […]
Tufton adds another ship to portfolio as core management team ups its stake in the manager. Tufton Oceanic Assets has acquired a containership for $6.75m. This takes its fleet to 19 vessels. The vessel has a fixed rate time charter of at least three years to a major container line which is investment grade. It is […]
In QuotedData’s morning briefing 5 January 2021: Apax Global Alpha says that Apax IX (one of the underlying funds that make up its portfolio) is selling a minority stake in Paycor. The transaction values the trust’s investment in Paycor at approximately €51m. This represents an uplift of about 30% and adds about €11.8m (€0.02 per share) to […]
Sirius Real Estate, the owner and operator of business parks in Germany, has completed the acquisition of three assets totalling €26m, signalling a return to acquisitive growth for the company after holding back whilst assessing the impact of COVID-19. The acquisitions are in Norderstedt, Hamburg for €9.1m, Nuremberg for €13.7m and Mannheim for €3.2m. They generate […]
Foresight Solar (FSFL) announces the acquisition of a portfolio of three greenfield solar assets in Spain. The 98.5 MW portfolio comprises three subsidy-free greenfield assets situated in the Andalusia region, Spain. FSFL says that total expected transaction costs are expected to come to €72m once construction is completed and include the acquisition of development rights for […]
Hipgnosis (SONG) has announced the acquisition of the music catalogue of Jimmy Iovine, described as a legendary and highly influential record producer in the 70’s and 80’s and one of the most important record executives and music entrepreneurs of all time. Hipgnosis has acquired 100% of Jimmy Iovine’s catalogue of worldwide producer royalties comprising 259 […]
In QuotedData’s morning briefing 4 January 2021 – SDCL Energy Efficiency Income (SEIT) announced the acquisition of an additional 15% interest in Primary Energy, a portfolio of recycled energy and cogeneration projects located in Indiana, USA, from a consortium led by Fortistar LLC for a cash consideration of approximately $36m. SEIT acquired an initial 50% interest in Primary Energy in […]
US Solar (USF) has executed binding agreements to acquire up to a 50% interest in a 200MWDC operating solar plant located in the Imperial Valley of Southern California, Mount Signal 2, for a total price of between $44m and $46m. The transaction is structured in two tranches. Tranche one comprises an immediate acquisition of an initial 25% interest […]
Aquila European Renewables Income (AERI) announced that its fully owned subsidiary, Tesseract Holdings Limited, has reached an agreement (under a share sale and purchase agreement) to acquire 89% of Desfina, an operational wind farm in Greece for an undisclosed amount. Upon completion of the acquisitions of Albeniz (as announced on 23 December) and Desfina, AERI […]
In QuotedData’s morning briefing 29 December 2020 – Supermarket Income REIT (SUPR) has bought a Waitrose supermarket in Market Harborough, Leicestershire from Alpha Real Estate for £9.1m. The investment represents a net initial yield of 4.3%, with an unexpired lease term of 19 years. Schroder British Opportunities (SBO) announced an investment into Graphcore, described as a leading machine […]
JPMorgan Indian bet on cyclicals and lost – JPMorgan Indian says that, for the year to 30th September 2020, it underperformed its benchmark by a considerable margin – returning -16.2% in JNAV terms against -4.2% for the MSCI Indian Index. A widening discount left shareholders with a return of -23.2%. The board says that “over the […]
SDCL Energy achieves critical mass in US – SDCL Energy Efficiency Income Trust has agreed to acquire a series of portfolios of commercial and industrial on-site solar and energy storage projects in the United States, together with a 50% interest in the platform that has created them, Onyx Renewable Partners from funds managed by Blackstone for […]
In QuotedData’s morning briefing 24 December 2020: Gresham House Energy Storage has conditionally agreed to acquire a c.30MW battery project located near Wester Dechmont, Livingston in West Lothian, Scotland. Byers Brae is a battery-only site with a c.30MW/30MW export/import capacity which is currently expected to be commissioned in the second quarter of 2021. The project is […]
British Land (BLND) announced it has exchanged upon the sale of a 75% interest in a portfolio of three buildings in London’s west end to Allianz Real Estate (acting on behalf of several Allianz Group companies) for £401m. The transaction represents a blended net initial yield of 4.32%, a premium to September book value and is […]
In QuotedData’s morning briefing 23 December 2020 – International Public Partnerships (INPP) made an additional €10m investment and a contingent commitment of a further €14m to the 100% indirectly owned special purpose company that owns the Northern Diabolo Rail Link (Diabolo). Diabolo is a rail infrastructure investment which integrates Brussels airport with Belgium’s national rail […]
Stenprop buys three more industrial estates – Stenprop has acquired three multi-let estates in Edinburgh, Cardiff and Wigan for a total consideration of £11.82m. The 81,495 sq ft estate in Wentloog, Cardiff has been acquired for £6.25m, reflecting a net initial yield (“NIY”) of 6.3%, in an off-market transaction. It currently generates a total annual […]
Warehouse REIT buys 200,000 sq ft of last mile warehouses – Warehouse REIT has bought a portfolio of four single and multi-let distribution warehouse assets for £18.6m. The purchase price reflects a blended net initial yield of 6.1%. Situated in key strategic last mile distribution hubs within the North West and the West Midlands, the 200,000 […]
UK Commercial Property buys Asda in Torquay – UK Commercial Property REIT has completed the acquisition of an ASDA supermarket in Torquay, Devon, from Aviva Investors for £16.6m, representing a net initial yield of 4.70%, rising to 5.24% in July 2021. The 33,000 sq ft supermarket in Torquay is fully let to ASDA on a long […]
In QuotedData’s morning briefing 22 December 2020: The Renewables Infrastructure Group has exchanged contracts to invest in Phoenix SAS, which owns a portfolio of operational wind and solar renewable energy assets. The portfolio comprises five onshore wind farms in Northern France with a combined capacity of 74MW and four operational solar parks with battery storage located […]
Schroder UK Mid Cap (SCP) reported annual results to 30 September 2020, with a total return of -7.7% in NAV terms representing better performance than the benchmark’s -15.3%. According to co-managers, Jean Roche and Andy Brough, the outperformance of the benchmark was due to stock selection, with gearing having a small negative effect. They note that […]
Value and Income to focus on property – Value and Income has published a circular to convene a meeting of shareholders at which shareholders will be asked to approve a new investment policy. The plan is to shift towards a portfolio predominantly invested in property. The equity manager has already resigned. The lead equity manager, Patrick […]
