Funding Circle SME Income attracts money from Citibank – Funding Circle SME Income Fund Limited says that the company has entered into a formal agreement with Citibank, N.A. London Branch to establish a funding transaction to make loans to UK small businesses through the Funding Circle platform . The transaction will serve to support the […]
Franklin Templeton Investments has announced that it has agreed, subject to the necessary regulatory approvals, to acquire Edinburgh Partners. Edinburgh Partners is an independent fund management house that is headed up by Dr. Sandy Nairn, a former Franklin manager. Dr. Nairn spent ten years at franklin Templeton, between 1990 and 2000, as an executive vice […]
SEGRO buys stake in Sofibus Patrimoine – SEGRO plc, through its subsidiary SEGRO France has acquired 19.39 per cent of the share capital of Sofibus Patrimoine from Harwanne Compagnie de Participations Industrielles et Financières for EUR20.5 million. The price is in line with the average share price over the past three months. Sofibus is a French […]
Aberdeen Diversified Income & Growth makes 3.7% in first six months – Aberdeen Diversified Income and Growth Trust has reported on the year to 30 September 2017. This period covers just a few months of its new investment objective and policy (which was approved by shareholders on 30 March 2017). The highlights are: net asset […]
Bankers promises 6% dividend increase – Bankers Investment Trust says that, for the year ended 31 October 2017, its NAV increased by 16.3%. The share price performance was enhanced as the discount to NAV narrowed, with the share price recording a 23.5% increase. The dividend was upped by 9.4% to 18.6p and the directors are […]
BBGI and John Laing Infrastructure comment on Carillion – BBGI SICAV says it has no exposure to Carillion. John Laing Infrastructure Fund Limited has 9 operational PPP projects where Carillion are the Facilities Management (“FM”) provider, 4 schools projects, 4 emergency services projects and 1 road project. The value of these projects is approximately 8.5% […]
HICL and INPP reassure on Carillion exposure – HICL Infrastructure Company Limited has made an statement following the recent announcement from Carillion plc regarding its compulsory liquidation. Acting through the Risk Committee, the HICL board and InfraRed, the company’s manager, make ongoing assessments of counterparties, potential issues in the HICL supply chain and related contingency planning. In particular, […]
Tritax Big Box forward funding two new Howdens Joinery warehouses – Tritax Big Box REIT has completed contracts for the site acquisition and forward funding for the development of two new distribution warehouse facilities at Warth Park, Raunds. The properties are pre-let in their entirety under two separate 30 year leases to Howdens Joinery Group Plc, […]
LXI REIT dips into student accommodation with Dundee purchase – LXI REIT, which is building an eclectic and diversified property portfolio, has acquired a long-let student accommodation scheme in Dundee. The purchase price is GBP20.25 million, reflecting a net initial yield of 6.3% (net of acquisition costs). The property is fully let to Mears Group PLC, […]
RDI REIT buys four flexible London offices – RDI has announced the acquisition of an 80% interest in a portfolio of four established, strategically located and high quality flexible offices in Central London from Forum Partners, Kailong Group and Office Space in Town (“OSIT”). The portfolio value of GBP161.7 million reflects an anticipated net initial […]
Chenavari Capital Solutions on track for capital return by 2021 – Chenavari Capital Solutions has published results for the year ended 30 September 2017. Highlights for the year ended 30 September 2017 During the year ended 30 September 2017, they produced a NAV total return of 5.71% (dividends reinvested) (2016: 4.23%). The NAV declined from 94.26 […]
Reconstruction Capital II acquiring Policolor – Reconstruction Capital II has signed conditional agreements to buy shareholdings in two Romanian-focussed investment funds whose main underlying asset is a 60% shareholding in Policolor S.A., a Romanian producer of paints and coatings, resins and chemicals with a substantial real estate portfolio. Reconstruction Capital already owns 40% of Policolor and, if the deal […]
Impact Healthcare REIT buys three care homes – Impact Healthcare REIT has exchanged contracts to acquire in a sale and leaseback transaction a portfolio of three purpose-built care homes in the North-East of England for GBP17 million (including costs). Completion is conditional on, among other things, regulatory approvals, and is expected to take place before the end […]
Aberdeen Standard European Logistics invests in Frankfurt – Aberdeen Standard European Logistics Income has announced that it has exchanged contracts to acquire Flörsheim Logistics Park, Frankfurt for a net value of EUR20.1 million from SEGRO Zehnte Grundbesitz GmbH. The acquisition will be funded from existing cash, following the successful launch of the company on Friday 15 […]
Safestore aims to fill unlet space – Safestore has published results for the year ended 31 October 2017. Highlights: Group revenue for the year up 12.6% (10.0% in constant exchange rates) Like-for-like group revenue for the year in constant exchange rates up 3.3%. Like-for-like like adjustments have been made to remove the impact of the […]
Hg invests in MeinAuto.de – Hg, the Manager of HgCapital Trust has announced an investment in MeinAuto.de, a leading B2C online platform for new car purchases based in Germany. The terms of the transaction were not disclosed. HgCapital Trust plc will invest approximately GBP6.7 million in MeinAuto, with other institutional clients of Hg investing through the […]
RM Secured C shares invested by end February – RM Secured Lending continues to invest the proceeds of its GBP30 million (gross) C share issue of October 2017. In accordance with its investment policy, the company has now closed or entered into binding commitments for investments by the C share portfolio with a total value […]
FastForward share price soars to multiple of NAV – what are they smoking? FastForward announced its interim results on 28 December which showed that its NAV at the end of September 2017 was 9.18p. Jim Mellon, the chairman, said “While our continued premium to net asset value suggests that our investor base still sees our […]
Standard Life Investments Property Income buys logistics facility – Standard Life Investments Property Income Trust has completed the purchase of a logistics facility of 216,180 sq ft in Shellingford, Oxfordshire on the established White Horse Business Park, for GBP11.5m, reflecting an initial yield of 6.5%. The unit is let for 25 years without break, and […]
Baillie Gifford-backed Denali secures Takeda as partner Baillie Gifford-backed US-biotech Denali Therapeutics has secured its first corporate out-licensing deal, just weeks after completing its Nasdaq IPO. Denali, which features in the Scottish Mortgage Investment Trust SMT portfolio, has signed a development deal with Takada covering three programmes for the treatment of Alzheimer’s disease and other neuro-degenerative diseases. […]
Biotech bellwether Celgene to report key update next week Investors in the main sector specialist investment trusts should watch for an important update from Celgene early next week at the annual JP Morgan Healthcare Conference, the largest and most important investor event in the sector. The US biotech group is expected to “pre-announce” Q4 sales […]
Bill Ackman behind $300m tender for Pershing Square shares, sale of Howard Hughes Corp stake to facilitate deal, buyback suspended Pershing Square Holdings has announced the proposed sale of all of PSH’s 2,067,490 shares of common stock in The Howard Hughes Corporation (NYSE: HHC). Pershing Square is pursuing this sale in order to help facilitate […]
Pershing Square settles lawsuit with Allergan – Pershing Square Holdings, Ltd has reached an agreement in principle, subject to court approval, to settle lawsuits concerning the attempted acquisition of Allergan plc. by Pershing Square Capital Management, L.P. and Valeant Pharmaceuticals International, Inc. in 2014. The lawsuits were filed in the Central District of California (Anthony […]
Masawara to delist as main shareholder passes 90% mark – On 27 December 2017, Oxford Holdings Limited acquired 50,760,456 ordinary shares at 30p per share, with 20p payable immediately and 10p to be paid within 12 months. The current principal shareholder of the Company is FMI Holdings (Private) Limited, which holds 61,163,618 shares. Mr Shingai […]
Key guidance expected for biotech trust favourite Biogen Biogen, the neurology-focused US biotech giant and a key holding for several of the UK’s sector specialist investment trusts, will provide a closely-watched update for investors at next week’s JP Morgan Healthcare conference that could be critical to its 2018 outlook. Biogen’s CEO will present at the conference, […]
Tritax buys Unilever distribution centre – Tritax Big Box REIT has acquired a national distribution facility at Hickling Road in Cannock, Staffordshire, which is operated and let to Unilever UK Ltd, one of the world’s leading suppliers of Food, Home and Personal Care products. The total consideration is GBP44.25 million (excluding purchaser’s costs). The property […]
Victory Park sells Prosper loans – In line with the previously stated strategy of reallocating capital from marketplace lending to balance sheet lending, Victory Park Speciality Lending has announced that it has sold its Prosper marketplace loans. The loans sold represented approximately 4.1% of the fund’s NAV as at 31 October 2017, reducing its marketplace […]
Strategic Equity Capital manager changes hands – The senior management of London-based specialist fund manager GVQ Investment Management Limited (“GVQ”) have entered into an agreement to acquire 100% of GVQ from RIT Capital Partners plc (“RIT”), subject to regulatory approval. GVQ currently manages GBP700 million of assets through two Irish listed open-ended funds, the GVQ UK […]
3i Infrastructure tops up WIG investment – 3i Infrastructure has agreed to increase its investment in Wireless Infrastructure Group (“WIG”) and to acquire the stake owned by Barings LLC’s client accounts. The expected investment by 3i Infrastructure is GBP186m which will take 3i Infrastructure’s ownership of WIG to 91% of the equity with the balance […]
LXB Retail Properties sells its investments in Stafford – LXB Retail Properties has exchanged contracts for the disposal of its two remaining investments at Stafford. It is also updating on further lettings at Rushden Lakes and Sutton. On 21 December 2017, the Group exchanged contracts for the sale of its retail investment at Riverside, Stafford to […]
