News

Civitas Social Housing has secured Investment Grade credit rating with Fitch Ratings. It has been rated High Credit Quality rating of “A” (senior secured) and a Long-Term IDR (Issuer Default Rating) of “A-” with a stable outlook. The rating will allow Civitas to grow its debt funding strategy and gives it access the broader bond […]

Urban Logistics REIT has forward funded on a speculative basis the development of five assets in the East Midlands for £23m. The group has exchanged contracts with developer Wilson Bowden Developments, conditional on receipt of planning permission, to finance the construction of two sites in Nottingham and Leicester. The development yield on cost of 6.12% […]

JLEN Environmental Assets (JLEN) announced the acquisition of a 100% equity stake in Gigabox South Road (GSR). GSR holds the development rights to construct the West Gourdie project, a 50MW lithium-ion battery energy storage plant-based in Dundee.  The acquisition will see JLEN invest up to £21.2m over the next 12-15 months. JLEN notes that the West Gourdie […]

In QuotedData’s morning briefing 3 March 2021 – Sequoia Economic Infrastructure Income (SEQI), the specialist investor in economic infrastructure debt, raised £110m in a placing. A total of 104,513,064 new ordinary shares will be issued at a price of 105.25 pence per share. Steve Cook, head of portfolio management at Sequoia Investment Management Company (SEQI’s manager), said: “We […]

Sirius Real Estate, the German business park owner, has completed the acquisition of a 8,800 sqm mixed-use business park in Fellbach, near Stuttgart, for €9.2m, reflecting an EPRA net initial yield of 6.0%. The asset is located adjacent to a business park already owned by Sirius, with the acquisition creating an enlarged business park comprising over 36,000 […]

Warehouse REIT, the multi-let industrial specialist, has acquired an asset at Glasgow Airport Business Park for £5.3m, reflecting a net initial yield of 6.3%. The asset, which comprises three units totalling 55,600 sq ft, is occupied by two global transport companies and a craft beer distributor. It generates an annual income of £357,000, equating to […]

RIT Capital shrugs off effects of virus – RIT Capital Partners results for the year ended 31 December 2020 show an NAV total return of 16.4% for the year, which compares to 12.7% for the MSCI All Countries World Index and 4.2% for the company’s performance objective of inflation (as measured by the RPI) plus 3% […]

In QuotedData’s morning briefing 2 March 2021: Syncona (SYNC) notes that Achilles Therapeutics, a clinical-stage biopharmaceutical company developing precision T cell therapies to treat solid tumours, announced it has filed a registration statement in  relation to a proposed IPO. Syncona owns 44% of Achilles which it values at £72.4m. RTW Venture Fund (RTW) participated in a Series […]

NextEnergy Solar (NESF) announced the acquisition of the UK based Camden solar photovoltaic portfolio comprising two projects totalling 100MWp for a total consideration of c.£64.3m. The portfolio has a 15-year power purchase agreement (PPA) in place covering c.75% of the electricity to be generated over the life of the PPA. The PPA counterparty is AB InBev, the world’s largest […]

City Merchants High Yield (CMHY) has announced that it has signed heads of terms with the board of Invesco Enhanced Income (IPE) in respect of a proposed merger with IPE  It is proposed that the enlarged entity will be renamed Invesco Bond Income Plus, which based on the existing net assets of CMHY and IPE, […]

BB Healthcare (BBH) reported annual results to 30 November 2020. The share price total return was 22.5%, the NAV total return was 24.6%, and the MSCI World Healthcare index returned 10.3%.  Geographically, BBH’s investments remain centred on the US market. BBH’s managers, Paul Major and Brett Darke, noted that healthcare very modestly underperformed the wider market over the financial […]

In QuotedData’s morning briefing 1 March 2021 – SDCL Energy Efficiency Income (SEIT) noted that further to its announcement on 24 December 2020, it has completed the acquisition of 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 […]

RTW backs Artiva Biotherapeutics – RTW Venture Fund notes the announcement by Artiva Biotherapeutics of its completion of a $120m Series B financing round. RTW Venture Fund, alongside other of the investment manager’s vehicles, confirms that it participated in the financing round together with other investment firms. Roderick Wong, MD, managing partner and chief investment officer […]

QuotedData’s weekly news show 19 February 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: Law Debenture’s results Troy Income & Growth change of manager BlackRock Frontier Markets shrinking Richard Williams also covered: […]

RDI REIT has announced an agreement on the terms of a £467.9m cash offer for the company by Starwood. Starwood already owns 29.59% of the company and has made an offer of 121.35p for the remaining shares. This price presents a premium of 33.1% to last night’s closing price of 91.2p and a 38.2% premium […]

Mobius Investment Trust (MMIT) has announced its annual results for the year ended 30 November 2020 (its second year of operations), during which MMIT provided strong NAV and share price total returns of +16.3% and +24.7% respectively. The chairman, Maria Luisa Cicognani, says that Emerging markets were particularly hard hit by the risk-averse sentiment in […]

CC Japan Income & Growth (CCJI) has announced its annual results for the year ended 31 October 2020, which show that it was hurt by its focus on income. During the year, CCJI’s NAV total return fell by 11.1% in sterling terms, while the Tokyo Stock Exchange Price Index (Topix) was fractionally positive at +0.3%. […]

Law Debenture (LWDB) has announced its annual results for the year ended 31 December 2020 and, in the words of its chairman, Robert Hingley, “Law Debenture has delivered a good performance in 2020, demonstrating the advantages of its unique structure, which allows increased flexibility in portfolio construction”. To summarise its performance, while LWDB provided an […]

Tetragon Financial (TFG) has published its annual report for the year ended 31 December 2020, which shows it was a bit of mixed year for the company. During the year, it has provided NAV and share price total returns of 9.5% and -18.5% respectively. In comparison, TFG’s hurdle (LIBOR + 2.75%) returned 3.7%, the MSCI […]

In QuotedData’s morning briefing 26 February 2021: Pacific Horizon is asking shareholders for permission to issue more stock. It has issued a circular for a general meeting that is to be held on 22 March 2021 in which it will put forward three resolutions: to ask for the authority to allot up to 20 per […]