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, [...]
Richard Branson-backed Spac targets Grove Collaborative in $1.5bn New York IPO deal December 8, 2021 Virgin Group Acquisition Corp, a blank-cheque firm backed by billionaire Richard Branson, has jumped on the eco-friendly product craze and targeted Grove Collaborative in a merger to take the “sustainable consumer goods company” public in a $1.5bn deal. In a transaction that is expected to close in the first or second quarter next year, the [...]
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 [...]
Berkeley upgrades guidance on strong demand for London housing December 8, 2021 Housebuilder Berkeley Group this morning upgraded its earnings guidance for the current financial year by 5 per cent, after a “resilient sales market” coupled with its investment in new regeneration development projects across London helped it deliver profit ahead of estimates. Earnings guidance was raised for pre-tax profits to increase by 5 per cent a year [...]
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 [...]
Paragon Banking Group reports record full year profits on lending surge December 7, 2021 Challenger bank Paragon Banking Group has reported “outstanding” full year performance as lending volumes across the business swelled above pre-pandemic levels. “We have delivered an outstanding performance in 2021, which is testament to the strength of our operating model, the quality of our customer base and the capability and adaptability of our people,” chief executive [...]
Nvidia’s $54bn Arm deal faces yet another setback as EU regulators press pause on probe December 6, 2021 EU competition watchdogs have temporarily hit pause on their investigation into Nvidia’s planned takeover of British chip designer Arm, introducing another obstacle in the way of the $54bn deal. The European Commission halted its probe into the takeover on its previous deadline on November 25, as it awaits more information, Reuters first reported from a [...]