Civitas buys 19 supported living properties – the Board of Civitas Social Housing PLC has announced that the company has completed the purchase of a portfolio of regulated social housing for a total consideration of GBP15.4 million, comprising the freehold interest in 19 supported living properties, with 95 tenancies, in Yorkshire and the Humber, the East […]
Greencoat buys Bishopthorpe wind farm – The Board of Greencoat UK Wind PLC has announced that it has acquired Bishopthorpe Wind Farm from BayWa r.e. for a total consideration of GBP47 million. The acquisition, which completed on 30 June 2017, was funded by Greencoat UK Wind’s revolving credit facility (GBP38 million) plus cash resources (GBP9 […]
Derwent London sells Copyright building – Derwent London is pleased to announce that it has exchanged contracts on the sale of its long leasehold interest in The Copyright Building, 30 Berners Street W1 to Union Investment Real Estate GmbH (“Union Investment”). The consideration is GBP165.0m, or GBP148.7m net of top-ups relating to rent free periods […]
BBGI SICAV has announced that it has signed an agreement to invest in five existing PPP projects and gain access to what it describes as, “a robust pipeline of future PPP projects in Canada”. The agreement is with a subsidiary of SNC-Lavalin Group to invest in an investment vehicle (referred to as a “Partnership”) which […]
CVC Credit Partners European Opportunities has announced the result of its placing of sterling and euro treasury shares (originally announced on 19 May 2017). The Company has raised £77.55 million and €13.87 million from the sale of sterling and euro treasury shares respectively. It says that it will therefore sell, from treasury, 69,197,176 Sterling ordinary […]
Caledonia Investments has announced that it has reduced its holding in Cobehold SA (Cobehold) from 8.7% to 5.4%, realising €58.2m. As a result of a forward foreign exchange contract previously put in place to hedge the proceeds from the anticipated sale, Caledonia says it will receive £50.6m. Cobehold is the holding company of Cobepa SA, […]
Globalworth Real Estate Investments has announced that it has acquired Building “C” of the Green Court Bucharest campus, developed by the Swedish group Skanska, for a gross transaction value of approximately €38m. The acquisition is expected to close in the third quarter of this year. Green Court Bucharest Located to the north of Bucharest in […]
There are only two investment companies that focus solely on China: the £1.2 billion Fidelity China Special Situations trust (FCSS) and the £180 million JPMorgan Chinese Investment Trust (JMC). JMC has performed well over the past year, returning 56% in net asset value (NAV) terms and 65% in share price terms. By contrast, FCSS grew […]
Wolf Minerals has secured additional funding from its major shareholder to support its short term working capital as it works towards identifying additional funding sources for long term self-sustainable operations at the Drakelands open pit mine. Resource Capital Fund (RCF), which owns 56% of the company, has increased its existing bridge facility from £30m to […]
For the year ended 30 April 2017, Miton Global Opportunities net asset value per share rose to 248.7p (2016: 182.4p), a total return of 36.3% (2016: 0.4%). The share price ended on an all-time high of 242.3p (2016: 164.3p), a total return of 47.5%. The fund has outperformed a number of other comparators such as the […]
HgCapital Trust has announced that it and other institutional clients of HgCapital will re-invest in Visma Group Holdings (Visma), which it describes as a leading provider of mission-critical business software to SMBs in the Nordic region. The transaction follows a decision by KKR to sell its holding in the group. HgCapital, the trust’s manager, is […]
NextEnergy Solar Fund has announced results for the year ending 31 March 2017. Highlights Investment portfolio of 48 solar PV plants for a total of c.483MW installed capacity in operation. NextEnergy Solar Fund is the largest listed solar energy fund on the London Stock Exchange in terms of both installed solar capacity and market capitalisation. Significant […]
Syncona writes up NightstaRx value – Syncona investment, NightstaRx has completed a US$45m funding round. Syncona has invested $12.5m at this stage and retains a 46% stake in the business. The existing investment in NightsaRx has been written up by £20.3m (3.1p per Syncona share) to £69.7m. NightstaRx also attracted investment in this round from […]
Dollar and exits power 17.5% return for Aberdeen Private Equity – Aberdeen Private Equity says that for the financial year ended 31 March 2017, its NAV rose by 14.2% to 152.24p. Inclusive of the two dividends, 2.2p and 2.0p (total 4.2 pence) paid respectively in September 2016 and March 2017, shareholders received a sterling NAV […]
3i Infrastructure considering sale of Anglian Water. The Board of 3i Infrastructure plc says it notes the press speculation regarding a potential sale of its interest in Anglian Water Group. The company confirms that it is considering options in relation to its holding in Anglian Water which is held through 3i Osprey LP, a partnership […]
Summit Germany spends €100m in Wolfsburg. Summit Germany Limited, the AIM-listed German commercial property investment company, has announced that it has entered into an unconditional agreement with Dazzle Capital Holdings Ltd., for the acquisition of a portfolio of commercial properties at a total purchase price of approximately €100 million including acquisition costs, located in 4 different […]
LondonMetric Property sells last Marlow office. LondonMetric Property has announced that it has exchanged on the sale of its last remaining office asset in Marlow to Kildare Partners for GBP68.5 million. The 231,000 sq ft office property is 96.7% let off a WAULT of 7.0 years to Allergan, Dun & Bradstreet, Lexington Catering, Icon Clinical and […]
UK Mortgages takes steps to tackle falling NAV as capital distributions eat into fund. UK Mortgages has made an update presentation to investors. In it, it acknowledges that it has taken longer to invest the proceeds of its IPO than expected. The longer investment period has meant: Slower earnings growth A longer period of uncovered […]
Ranger Direct Lending updates on Princeton saying it has initiated arbitration proceedings. Princeton is incorporated in the British Virgin Islands and invests in a Delaware master fund (the “Princeton Master Fund”) which is a party to the underlying lines of credit. Ranger Alternative Management II, LP (the “Investment Manager”), the Ranger Specialty Income Fund, LP […]
Great year for Monks as seven holdings more than double. Over the year to 30 April 2017, Monks’ net asset value total return was 40.0% compared to a total return of 31.0% for the World Index (in sterling terms). The share price total return for the same period was 53.9%, with the discount narrowing to 0.6%. The one […]
JPMorgan American slashes fees. The Board of JPMorgan American Investment Trust has announced that, following a review, the investment management fee arrangements with JPMorgan Funds Limited will change. With effect from 1st October 2017, the annual investment management fee, currently 50bps of total assets less current liabilities, with no tiering, will be charged at an annual […]
Sale of Land at International Healthcare Park Aseana Properties has announced that its 72.35% owned subsidiary, Hoa Lam-Shangri-la Healthcare (HLSL), has completed the sale of a plot of 1.23 hectares of land at International Healthcare Park (IHP), in Ho Chi Minh City, Vietnam. The sale, to Tien Phat Consultancy, has been achieved through the sale of […]
Blackstone / GSO Loan Financing (BGLF) has announced that it intends to apply to the UK Listing Authority (UKLA) for admission of the Company’s shares to a premium listing on the Official List and to the LSE for trading of the Company’s shares on the Premium Segment of the Main Market of the LSE. At […]
Picton Property Income (Picton) has announced that it has extended one of its revolving credit facilities (RCF) with Santander Corporate and Commercial Banking. Picton has two revolving credit facilities, one of which expires in 2018 and the other in 2021. The 2018 facility has now been extended and will expire at the same time as […]
NextEnergy Solar Fund (NESF) has announced the results of its placing. It says that the level of confirmed demand was significantly in excess of the original targeted fundraising of £100m and that due to the substantial oversubscription, the Board, after consulting the Investment Manager, has elected to exercise its right to increase the size of […]
F&C Global Smaller just fails to match rising benchmark – it says that small cap stocks more than held their own against the larger companies, doing particularly well in the US, over the year ended 30 April 2017. The fund’s benchmark is a blended index of the returns from the MSCI All Country World ex UK […]
LXi REIT has announced that it has completed the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Kent, West Sussex and Gloucestershire. The purchase price for the Portfolio is £3.2 million, reflecting a net initial yield of 6.0% (net of acquisition costs to the Company). Lxi REIT […]
Great Portland buys an acre of Whitechapel – Great Portland Estates plc has acquired the freehold of land and buildings including Cityside and Challenger House, 40/42 Adler Street and 2/8 Whitechapel Road, London E1 from Hermes Investment Management, for GBP49.6 million (GBP320 per sq ft). The 1.1 acre site sits between Aldgate to the west and […]
Phaunos Timber Fund bites the dust – the Board of Phaunos Timber Fund Ltd has announced that at the Annual General Meeting held at 11.00 a.m. on 19 June 2017, all resolutions were duly passed on a poll with the exception of Resolution 7 (the Continuation Vote). As Resolution 7 has not been passed, it is the Board’s […]
From an economic standpoint recent news in the UK has been worrying. House prices are falling and so are retail sales. Inflation has exceeded the Bank of England’s target and so the monetary policy committee is edging closer to raising interest rates. We have a hung parliament and we are just about to embark on […]
