Good year for North Atlantic Smaller Companies despite high liquidity – North Atlantic Smaller Companies says that, for the year ended 31 January 2018, its net asset value rose by 16.5%, to an all-time high of 3,458p. This compares with a rise in the sterling adjusted Standard & Poor’s Composite Index of 9.8%. There is no […]

VinaLand sells Pavilion Square project – VinaLand Limited has sold its entire stake in the Pavilion Square project. The project, located in Ho Chi Minh City, Vietnam and acquired by VinaLand in 2007, is designated for a future mixed-use development. VinaLand has sold its entire stake in the project to RC12 Investment Joint Stock Company […]

Stronger sterling depresses Harbourvest’s returns – HarbourVest Global Private Equity Limited has reported 16.2% NAV growth to $21.46 from $18.47 over the year to 31 January 2018. 55% of HVPE’s assets consist directly of US investments and a further 23% of assets are denominated in US dollars. In the year to 31 January 2018, sterling […]

3i Infrastructure’s ‘outstanding’ year – 3i Infrastructure has announced a 28.6% return for the year ended 31 march 2018 and a 10% increase in the target dividend for FY19 to 8.65 pence per share. Richard Laing, its chairman, said: “The company had an outstanding year. The realisations of our holdings in Elenia and Anglian Water Group generated […]

Prothena drags WPCT to bottom of performance league table in April The fall in the value of its large investment in Prothena on negative results from two late-stage trials last month had a predictable effect on Woodford Patient Capital (WPCT)’s performance among the biotech-specialist closed end funds this year, although its relative underperformance extends over […]

HBM set to gain on Lilly buyout of investee Armo Swiss-listed HBM Healthcare (HBMN) looks set to see a significant boost to its already strong investment performance this year as a result of a deal that will see Eli Lilly buy one of its investee companies, the US biotech ARMO Biosciences.  Lilly’s agreed deal to […]

Life Settlement Assets announces three ‘maturities’ – Life Settlement Assets has made the following announcement: “The company has received notification of three policy maturities on two lives with a face value of USD1,784,882.18 for the benefit of the B share class (LSAB).  These maturities reflect the lumpy nature of returns from the portfolio and are […]

Shaftesbury makes a strategic acquisition in Carnaby – Shaftesbury (SHB) the Real Estate Investment Trust (REIT) has exchanged contracts to acquire the freehold of 35 and 36 Great Marlborough Street, Carnaby for £22.7 million. Located at the northern gateway in to Carnaby, the buildings comprise two shops (3,000 sq. ft.) with 4,250 sq. ft. of office accommodation on the […]

HgCapital invests in medical software provider MediFox – HgCapital (HGT) has announced an investment in MediFox, a provider of software solutions to outpatient and inpatient care providers and therapy practices in Germany. The terms of the transaction were not disclosed. The investment for £8.0m follows an exit from private equity funds managed by Equity Capital […]

Civitas share price boosted as it sorts potential First Priority problem – Civitas Social Housing has announced that today, 9 May 2018, all Civitas leases previously with First Priority were assigned, on the same terms to Falcon Housing Association C.I.C, an existing Civitas housing association partner. Civitas’ share price is up 2% on the news. In addition, […]

Puretech digital health venture raises $55m LSE-listed healthcare venture firm Puretech Health (PRTC)’s digital health offshoot, Akili Interactive, has raised $55m in a series C financing. The move comes ahead of its planned FDA filing for a tablet-based video game for the treatment for attention deficit hyperactivity disorder (ADHD). This product, AKL-T01, would – if approved – become one […]

Blue Capital Alternative Income throws in towel – At Blue Capital Alternative Income’s AGM, which was held on 8 May 2018, shareholders voted 78.2m shares in favour of continuation and 68.8m shares against. Despite winning the vote, the board intends to recommend an orderly run-off of the company. This will be voted on at a special general […]

Benchmark-beating performance by Invesco Perpetual UK Smaller Companies – Invesco Perpetual UK Smaller Companies Investment Trust (IPU) issued its annual financial report for the year ended 31 January 2018. Performance The NAV of the company rose by 23.9%, on a total return basis.  In so doing, it outperformed  the benchmark index of the company by 8.8%. The […]

Savills acquires British Land’s third-party property management portfolio – in a joint press release published on their websites British Land (BLND) have announced that it has sold its third-party property management portfolio within its property management business, Broadgate Estates to Savills, the international real estate adviser. Approximately 160 Broadgate Estates employees are expected to transfer […]

Greencoat UK Wind to up its Clyde wind farm stake – Greencoat UK Wind says that it intends to exercise its option to increase its shareholding in the Clyde wind farms to 28.2%. This will cost it GBP114.2 million and, therefore Greencoat intends to raise up to GBP118.8 million through a placing of new ordinary shares by way of a […]

CATCo takes another big write down on 2017 NAV – Markel CATCo Investment Management Ltd., is to increase the specific loss reserves held by CATCo Reinsurance Opportunities in relation to the ordinary shares for loss events in 2017. The impact of the increase is estimated to be approximately 19.5% of the 31 March 2018 ordinary share NAV. This represents […]

New Oaktree letter as Ranger dispute rumbles on – The full text of the letter is as follows: May 4, 2018 Dear shareholders of Ranger Direct Lending PLC (“Ranger,” the “Company” or “RDL”),  We write to express our deep disappointment with recent actions by Ranger’s Board of Directors (the “Board”), culminating in the RNS announcement […]

P2P Global securitises Funding Circle loans – The European Investment Fund and German development bank, KfW will invest in UK small businesses through a securitisation of loans originated by Funding Circle The £207 million loan portfolio is issued by P2P Global Investments PLC. It is the second securitisation of loans originated by Funding Circle and […]

New manager for Shires Income – Following the merger of Aberdeen Asset Management PLC and Standard Life plc, and the subsequent integration of the equity teams at Aberdeen Standard Investments, the board of Shires Income PLC  has announced that Iain Pyle will become the lead investment manager on the company’s portfolio with immediate effect. The […]

Aberdeen New Thai aims to spice up returns – Aberdeen New Thai has reported results for the year ended 28 February 2018.  The Thai market, as represented by the Stock Exchange of Thailand index (“SET Index”), provided a total return of 21.6% in sterling terms. The chairman’s statement says that foreign investors were net sellers of […]

Syncona to benefit from Blue Earth value gain UK hybrid biotech investor/fund-of-funds Syncona (SYNC) should be able to take a c£64m increase in the value of its shareholding in Blue Earth Diagnostics this month, after the company was revalued on the back of an licensing agreement. The value of Syncona’s 90% holding in the diagnostics company will rise from £123.1m […]

Second Arix investee plans US IPO Arix Biosciences (ARIX), a LSE-listed life sciences VC investor, could potentially see two of its investee companies go public on the US stockmarkets in the coming weeks, after Iterum Therapeutics disclosed the filing of a Form S-1 registration statement with the US SEC.  Iterium’s move comes after another Arix investee company, Autolus – […]

€15.5 million sale of German non-core asset by Sirius Real Estate – The completion of the sale of the Bremen Brinkman business park for €15.5 million has been announced by the completion of the sale of its Bremen Brinkman business park for €15.5 million by Sirius Real Estate (SRE). The company say in the announcement that […]

Regional REIT purchases six new assets – Regional REIT (RGL) announced that it has exchanged contracts to purchase six regional assets from Kildare Partners for £35.2m in an off market transaction. The net income from the assets purchased is expected to be in the region of £3.1m per annum. This equates to a net initial yield […]

Ian Barrass to retire as co-fund manager of Henderson Alternative Strategies – The board of Henderson Alternative Strategies (HAST) has announced that Ian Barrass is to retire as co-fund manager at the end of June 2018 due to long-standing health issues. James de Bunsen, who has been the company’s co-fund manager since May 2014, will continue in […]

Colin Hughes to retire as co-fund manager of Henderson Opportunities Trust – The board of Henderson Opportunities Trust (HOT) has announced that Colin Hughes, co-fund manager for the company is to retire from Janus Henderson Investors on 30 June 2018. James Henderson continues as the lead fund manager for the company, assisted by Laura Foll and Charlotte Greville. Laura […]

Gresham House proposal of acquisition and placing of new ordinary shares – Gresham House (GHE) has announced two proposals today. Firstly, it is planning to acquire an alternative investment fund manager and secondly to raise approximately £15.0m by a placing of new ordinary shares. Aquisition Gresham House is a specialist alternative asset manager and it is looking to […]

Frustrating year for EPE Special Opportunities – The poor performance of the company’s largest asset has brought down the NAV and share price of EPE Special Opportunities (ESO), it reports in its annual statement for the year to 31st January 2018.  However, moves are in place to improve performance. The NAV at 31 January 2018 was […]

BioPharma Credit leads new $315m loan to Sebela BioPharma Credit (BPCR), the LSE-listed specialist life sciences debt investor, is to act as lead investor and collateral agent for a US$315m term loan to Sebela Pharmaceuticals, a US privately-held commercial-stage speciality pharmaceutical company focused on gastrointestinal, dermatology and women’s healthcare. BioPharma Credit will provide $194m of the loan principal […]