Takeover failure: UK’s Elementis rejects US private equity bid January 25, 2024 US private equity firm KPS Capital Partners has been rejected in its takeover offer for UK-listed chemical company Elementis. Elementis rejected a 160p per share takeover, with Reuters reporting that the firm’s board wanted around 180p. The firm is currently trading on 139p per share. Elementis has been under pressure for months from its shareholders [...]
Liontrust starts search for new chair following GAM fiasco January 25, 2024 Liontrust has begun to search for a new chair following its failure to purchase Swiss asset manager GAM last year. Alastair Barbour, who has sat on the firm’s board for 13 years and has been chair of the asset manager since September 2019, is set to be replaced. Sky News reported that Liontrust had been [...]
ESG Backlash: Investors are pulling more cash from sustainable funds than they’re putting in January 25, 2024 Sustainable funds saw their first net redemptions ever in the last quarter of 2023, according to a report from Morningstar, as further questions are asked over the value of ‘ESG’. Environmental, social and governance- focused funds experienced $2.5bn (£1.96bn) of outflows, as US investors pulled a record $5bn from sustainable funds, while European investors still [...]
Lloyds Bank private equity arm exits London-based tech firm January 25, 2024 Lloyds Bank’s private equity arm LDC has exited its investment in London-based cloud and digital services provider Kerv after three years in the firm. As part of the transaction, Bridgepoint Development Capital has invested in Kerv for a majority shareholding and LDC has reinvested £30m to support the continued growth of the business. Within the [...]
IG Group shares down: ‘Unexciting markets’ cause 21 per cent profit drop January 25, 2024 IG Group experienced a 21 per cent drop in adjusted profits before tax in the second half of 2023, which acting CEO Charlie Rozes credited to “unexciting markets” for its clients. The group’s share price fell 9.5 per cent on open this morning, before recovering slightly. Speaking to City A.M, Rozes said that he thought [...]
St James’s Place brings in £5.1bn of new money as funds swell by £20bn January 25, 2024 This growth largely came from its pensions arm, which swelled by over £6bn in the final quarter of the year, compared to £1.6bn in its investment arm and £1bn in its discretionary fund management wing.
Treasury changes will hit angel and small investors ‘hard’ – with start-ups fearing the worst January 25, 2024 Hundreds of top investors in tech and start-ups called on the Chancellor to reconsider plans that could shut out 'angel investors' from fast-growing firms
Back in the game: Venture Capital Trust to raise after Chancellor’s stay of execution January 25, 2024 A venture capital trust (VCT) is set to launch a £50m fundraise on the London Stock Exchange next month in one of the first major moves since Jeremy Hunt delayed a phase-out
Private equity dealmaking slumped 20 per cent as UK financial services bucked trend January 24, 2024 Throughout the entire market, it reported that deals had fallen even more significantly, dropping from 1,802 in 2022 to 1,451.
‘Size does matter’: JP Morgan set to merge trusts as they’re too small January 24, 2024 JP Morgan Asset Management is set to merge its the Multi-Asset Growth & Income trust (MATE) into its Global Growth & Income trust (JGGI), due to MATE’s small size. In a stock exchange notice today, the two trusts said MATE would be folded into JGGI, creating the largest investment trust in the global equity income [...]