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01 Mar 2021
Greencoat Renewables GRP Monaincha wind farm

Greencoat Renewables recaps on a big year of growth

Greencoat Renewables (GRP) reported final results for the year to 31 December 2020, with key highlights from the year including the following: 2020 Generation increased by 22% to 1,404GWh, 3 per cent below budget. (2019: 1,154GWh) 2020 Net cash generation increased by 36% to €66.4 million (2019: €48.7million) Dividend cover for 2020 of 1.7x Increased the portfolio […]

27 Aug 2021

Monthly roundup | Real estate

  An update note on Standard Life Investments Property Income Trust (SLI). The group is future-proofing its portfolio fit for a post-pandemic world and has put ESG at the heart of its decision-making process.   An update note on Grit Real Estate (GR1T). The pan-African real estate investor’s diverse portfolio has proved resilient during COVID-19, […]

09 Jul 2021
03 Mar 2021

Civitas Social Housing achieves investment grade credit rating

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 […]

03 Mar 2021

Urban Logistics REIT to forward fund speculative development

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% […]

03 Mar 2021

Premier Miton Global Renewables reports results to recap an excellent year

Premier Miton Global Renewables (PMGR), formerly Premier Global Infrastructure, announced annual results covering the period to 31 December 2020. The total assets total return, measuring the return on the portfolio including all income and costs, (including the costs associated with the ZDP refinancing of £0.41 million), was 16.5%. PMGR said that this performance was well ahead of […]

03 Mar 2021

JLEN Environmental Assets makes its third investment into battery storage systems

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 […]

03 Mar 2021

QuotedData’s morning briefing 3 March 2021

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 […]

02 Mar 2021

Sirius Real Estate acquires Stuttgart business park

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 […]

02 Mar 2021

Warehouse REIT acquires industrial property

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 […]

02 Mar 2021

Strategic Equity Capital pins its hopes on strategy shift

Strategic Equity Capital pins its hopes on strategy shift – Strategic Equity Capital reports, on a total return basis, an 18.1% increase in its NAV and 19.3% increase in its share price over the second half of 2020. These numbers lag the 28.5% return posted by the FTSE Small Cap Index, the manager attributes this to […]

02 Mar 2021

Sunny days for Bluefield

Sunny days for Bluefield – Bluefield Solar’s interim results for the six months ended 31 December continue on a positive note. Highlights are: Shareholders approved an expansion of the company’s remit to include investment outside of solar infrastructure assets, notably wind and energy storage. Shareholders also approved an update to the dividend policy. Bluefield completed […]

02 Mar 2021

RIT Capital shrugs off effects of virus

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% […]

02 Mar 2021

Apax Global Alpha posts strong returns for 2020

Apax Global Alpha’s results for the year ended 31 December 2020 show the company generating a return of 14.8% on NAV, as the NAV hit €2.45 (219p) at the year end and the company declared dividends totalling 10.15p for the year. The private equity portfolio generated a return of 25.4% in euros (the currency that […]

02 Mar 2021

QuotedData’s morning briefing 2 March 2021

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 […]

01 Mar 2021

NextEnergy Solar acquires two UK-based solar projects totalling 100MWp for £64m

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 […]

01 Mar 2021

City Merchants High Yield and Invesco Enhanced Income sign heads of terms on proposed merger

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, […]

01 Mar 2021

Annual results from BB Healthcare

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 […]

01 Mar 2021

QuotedData’s morning briefing 1 March 2021

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 […]

26 Feb 2021

RTW backs Artiva Biotherapeutics

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 […]

26 Feb 2021

QuotedData’s weekly news show 26 February 2021

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: […]

26 Feb 2021

QD view – More REIT M&A to come?

The listed property sector is ripe for merger and acquisition (M&A) activity with many real estate investment trusts (REITs) still trading at significant discounts to net asset value (NAV). Today we saw RDI REIT the subject of a £467.9m takeover bid by Starwood Capital at a price offering a huge premium to its share price, […]

26 Feb 2021

QD view – the rewards of truly patient capital

One of this week’s highlights was Herald’s (HRI’s) annual results for the year ended 31 December 2020. The performance numbers are impressive, a 37% return on NAV and a 51% return for shareholders, helped by some discount narrowing. Herald also celebrated another milestone, you may remember that back in 2017, we published a note – […]

26 Feb 2021

RDI REIT subject of £467.9m takeover approach

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 […]

26 Feb 2021

Strong returns for Mobius Investment Trust’s second year of operations

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 […]

26 Feb 2021

CC Japan Income & Growth hurt by income focus

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%. […]

26 Feb 2021

A good share price performance from Law Debenture in 2020

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 […]

26 Feb 2021

A mixed year for Tetragon Financial

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 […]

26 Feb 2021

QuotedData’s morning briefing 26 February 2021

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 […]