Activist investor Elliott takes stake in Taylor Wimpey and calls for change December 11, 2021 Activist investor Elliott Investment Management has called on Taylor Wimpey to make major changes in the company’s leadership, which it has blamed for the builder’s falling share price, according to reports. The news comes days after Taylor Wimpey’s chief executive officer Pete Redfern announced his resignation after 14 years. Shares at the time were 29 [...]
Gresham House outruns expectations and charts 50 per cent AUM growth to more than £6bn December 9, 2021 Alternative asset manager Gresham House expects to “significantly outperform” market expectations with assets under management (AUM) growth of at least 50 per cent to £6bn by the end of the year, as investors chase sustainable classes like forestry. Its confident update to the market pitched adjusted operating profit at more than £18.5m – £3m above previous [...]
Foresight appoints new infrastructure co-chief on strong demand for sustainable investments December 9, 2021 London-listed sustainable investment manager Foresight has this morning announced the appointment of Ricardo Piñeiro as a new co-head of its infrastructure division, as the group expects the trends driving its rapid growth in sustainable infrastructure investment to continue apace. Assets under management rose 13 per cent to £8.1bn in the six months to 30 September, [...]
Omicron hit to economy: New Covid restrictions may cost businesses £4bn in December December 9, 2021 The UK economy should brace itself for a £4 bn a month hit and see taxpayers foot the bill for more emergency support as new Covid restrictions to clamp down on the spread of the Omicron variant come into force, a think tank has warned. The right-wing Institute of Economic Affairs (IEA) said Plan B [...]
Growth capital business a key focus for long-term strategy at Numis, says co-CEO December 8, 2021 City broker Numis this morning reported its full year revenue swelled nearly 40 per to hit £215.6m, as a buoyant IPO market coupled with stabilised markets and rising deal fees helped the firm deliver its second record annual revenue performance in a row. Profit before tax doubled in the year to September 30, which Numis [...]
Man Group announces $250m share buyback after cashing in on market rebound December 8, 2021 Man Group, the world’s largest listed hedge fund manager, this morning announced it intends to buy back up to $250m shares to return cash to shareholders, after it posted consistently good performance over the last year. The FTSE 250 group said it will begin buying back the first tranche of $125m shares immediately, and the [...]
Permira takes Mimecast private in £4.4bn all-cash deal December 7, 2021 Shares in Mimecast jumped more than 6 per cent in pre-market trading on the news that the British cybersecurity firm is being targeted by private equity firm Permira in a take-private deal valued at $5.8bn (£4.4bn). In the latest deal in what has been a very busy year for private equity interest in the tech [...]
London tie-up: Liontrust acquires Majedie Asset Management for up to £120m December 7, 2021 Liontrust Asset Management said this morning that it has agreed to acquire its London peer Majedie Asset Management, in the latest example of a trend of consolidation in the industry. FTSE 250 boutique firm Liontrust said it will pay an initial £80m for Majedie, plus an additional deferred consideration of up to £40m. Due for [...]
Grassroots ESG: Retail activist investment platform Tulipshare raises $11m December 7, 2021 Tulipshare is targeting the next generation of shareholders by tapping into their booming interest in retail investment and demand for a corporate ESG overhaul. After launching in July, the London-based startup has raised $10.8m in seed funding from investors including Eurazeo, Speedinvest and Frst, and received backing from the co-founders of friend locator app Zenly [...]
Blackrock and Vanguard rake in billions: Omicron variant makes Moderna and Pfizer shareholders more than $10bn December 6, 2021 Big pharma executives and shareholders saw their wealth skyrocket in the week after the Omicron variant was discovered, with eight top Pfizer and Moderna shareholders making a combined $10.3bn. Campaigners have accused pharma executives of “making a killing from a crisis they helped to create”, blaming “grotesque” levels of vaccine inequality for creating the conditions [...]