LMS Capital, which is gradually selling off its portfolio and returning money to its shareholders, will tender for £40m of shares. Forms must be submitted by 22 May, the tender will be approved by shareholders on 27 May and the result of the tender will be announced on 28 May.
Kennedy Wilson Europe Real Estate is buying a portfolio of residential and commercial properties (the Central Park portfolio) in Sandyford, Dublin for €88m and another portfolio (the Opera portfolio) of seven offices and six retail properties – mostly in Dublin but with one asset in Cork for €391m. The Central park portfolio comprises 272 residential units and 31,000 […]
3i Infrastructure has published its results for the year ended 31 March 2014. Over the year it generated a total return on net assets of 6.6% (the NAV went to 126.4p from 123.0p and the dividend for the year is 6.7p). Good performance from their investments in Europe was offset by further disappointment in India […]
NextEnergy Solar Fund has spent 9% of its IPO proceeds (£7.98m) on a 6.3MW solar plant at Shacks Barn in Northamptonshire. the plant has been producing energy since march 2013 and qualifies for an older, more generous, government subsidy than a new plant would.
Scottish Mortgage has released figures for the year ended 31 March 2014. It was good year for the fund as the net asset value total return of 23.1% was well ahead of the 6.8% return on the FTSE All-World Index. The share price did even better, returning 28.9% as the discount closed to zero. The […]
The Ottoman Fund has announced that it will return £27m to shareholders (the sale proceeds from the Riva land sale it reported earlier this year. Shareholders will be entitled to the cash if they hold the shares on 14 May and the payment will be made on or about 27 May
Henderson European Focus Trust has announced its half year results for the period ended 31 March 2014. Its net asset value total return for those six months was 16.5%, well ahead of the 8.7% return generated by the FTSE World Europe Index (in sterling). The discount narrowed over the period, moving to a premium at times, and […]
Polar Capital Global Healthcare has released figures covering the six months ended 31 March 2014. The fund outperformed its benchmark during this period – generating a total return of 13.5% on the net asset value against an 11.8% return on the MSCI All Countries World Index – Healthcare Index. The fund’s shares underperformed however as […]
Kennedy Wilson Europe Real Estate has announced that it has bought three tranches of debt in a securitised property vehicle – the Fordgate Jupiter portfolio. The portfolio comprises 21 properties in England and Scotland and includes office, car showroom, leisure, retail and distribution properties. Kennedy Wilson Europe Real Estate bought the debt, which has a […]
Symphony International Holdings has announced that it has invested in the Wine Connection Group – a 50 strong portfolio of wine themes food and beverage outlets trading across South East Asia. Symphony International Holdings also announced today that its net asset value at the end of March 2014 was US$1.2134 (up from $1.1759 at the […]
Schroder Real Estate has announced that it has spent £33m of the £40.2m it raised recently to acquire a 25% stake in City Tower, Manchester. The rest of the tower is being bought by other property funds managed by Schroders. City Tower has over 600,000 sq ft of offices, retail and leisure space. The price is […]
Infrastructure India has arranged an $8.1m loan facility. The lender is Cedar Valley (an entity connected to GGIC who own more than 50% of the fund’s shares), the interest rate is 15%, there is an arrangement fee of $81,000 and the money is repayable on 30 November 2014. The loan proceeds will mostly be used […]
Troy Income & Growth has released its results covering the six months ended 31 March 2014. Over this period the net asset value total return was 7.6% – ahead of the 4.8% return on the FTSE All-Share Index. the return to shareholders was 7.7%. The run rate of the quarterly dividends was upped to 0.55p […]
Starwood European Real Estate Finance has increased the size of a loan it made last October by an additional €13.5m to allow the borrower to acquire seven light-industrial and office properties in the Netherlands – this means that they have commitments for 77% of the IPO proceeds
JZ Capital has announced figures for the year ended 28 February 2014. Over the period it generated a NAV return of 8.8%. It is making a distribution of $0.30 per share. The company invested $150m over the year and is making investments in a new industrial sector – logistics solutions – kicking off with an investment […]
Workspace Group has done a deal with London & Quadrant whereby L&Q will develop a 2 acre site owned by Workspace in Creekside, Deptford – building 148 apartments and a 52,000 sq ft business centre – and will pass Workspace the completed business centre and £9.5m in cash.
Chenavari Capital Solutions has made its second primary deal, a £9m investment in a first loss exposure to a portfolio of c250 primarily investment-grade corporate loans made by a German corporate and investment bank. Following this transaction, Chenavari Capital Solutions will have committed 70% of its IPO proceeds and the company says the manager is […]
HICL Infrastructure has bought a 10% stake in a planned dual carriageway, the N17/N18, linking Gort to Tuam in the Republic of Ireland and due to be completed in November 2017. HICL Infrastructure has also bought an additional 16.5% stake in the Miles Platting Social Housing PFI Project in Manchester. The total cost for both […]
Workspace Group is adding to its portfolio of rentable office space in London by buying Vestry Street Studios, a 23,000 sq ft studio space near Old Street, London N1 for £12.55m. The net initial yield is 4.1% but Workspace believe the current rent of £23 per square foot can be improved
International Oil & Gas Technology announced its results for the year ended 31 December 2013 on 30 April. Over the year its net asset value fell from $9.34 to $4.10 as litigation against its former manager dragged on and it was forced to write down the value of some of its holdings.
Phaunos Timber has announced that Green Resources (a company that Phaunos Timber owns 26% of) is buying Global Solidarity Forest Fund (a company with plantations in Mozambique adjacent to Green Resources’ own forests). The deal will dilute Phaunos Timber’s holding down to 18.9% but is being struck at a price for Green Resources equivalent to […]
JP Morgan Private Equity has announced that it has invested $50m in four companies since December – one third of their target for the period ended 31 December 2015. All of the investment has been funded from the proceeds of distributions from its existing portfolio. $14m of the $50m was invested in a US based […]
Invista European Real Estate has agreed a new €220m credit facility with Blackstone Real Estate Debt Strategies and has repaid all the money it owed to Cerberus Capital Management / Bank of Scotland. The new facility is priced at 770 basis points over LIBOR and has an initial LTV covenant of 85%. If, by selling […]
Edinburgh Dragon’s figures for the six months ended 28 February 2014 show a fall of 5% I total return terms for the company’s net assert value – 4% worse than the 1% fall in its benchmark index. The Chairman attributes this Edinburgh Dragon’s holdings in Greater China and Singapore.
Aberdeen New Thai’s net asset value fell over the course of the year to the end of February 2014, posting a negative total return of 25.6% – marginally better than the -26.6% return on the Stock Exchange of Thailand Index. The discount widened resulting in a return to shareholders of -33.3%. The average discount over […]
Witan Pacific has published its results for the year ended 31 January 2014. The net asset value total return for the year was a fall of 6.5% – this compares to a positive 0.2% return from the company’s benchmark. The discount narrowed a little and so the return to shareholders was -5.2%. Gillian Nott, the […]
Mid Wynd has announced that as Michael MacPhee, who is the company’s existing investment manager, is retiring, they have decided to move Mid Wynd’s management contract from Baillie Gifford to Artemis. The new management team will comprise Simon Edelsten, Alex Illingworth and Rosanna Burcheri who are, collectively, Artemis’s Global Select team. They focus on “a […]
Investors In Global Real Estate has decided to appoint a new manager to replace CBRE Clarion Securities LLP – the new manager is expected to take up their duties in July 2014. In the meantime Investors in Global Real Estate has decided to suspend its discount control mechanism.
Gresham House’s net asset value fell from 445.1p to 378.5p over the year ended 31 December 2013. most of the fall can be accounted for by write-downs in the valuation of the company’s investment properties and the fall in value of one of its equity investments – Memorial Holdings (a cemetery company which lost its […]
The Cayenne Trust has posted its figures for the year ended 31 January 2014. The Cayenne Trust generated a net asset value total return of 13.6% for the year – 3.6% more than the return on the FTSE Equity Investments Instruments Index.
