Mostly early morning news & views on investment companies, funds & markets by Gavin Lumsden, head of news @QuotedData. Formerly @Citywire & @thetimes.
Joined September 2013
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- Followers 4,579
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175 Photos and videos
Advent, the private equity group that has invested $15bn in UK defence since 2020 (inc $8.8bn or £4bn £2.6bn takeovers of Cobham & Ultra Elec), pushes for contractors to play bigger role in devising defence contracts in wake of John Harley’s resignation.
thetimes.com/article/76ec745…
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Jun 13
Bending Spoons, the unquoted Italian digital turnaround company, this week filed plans for a $20bn (£15bn) US flotation, boosting Baillie Gifford European Growth #BGEU & its private equity stable mate Schiehallion #MNTN, which hold it as a top position. quoteddata.com/2026/06/baill…
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Jun 13
Will Alternative Income REIT #AIRE resolve the due diligence row with AEW UK REIT #ARWU to let it pursue its all-share offer at a 3% discount? That looks attractive vs the £56.3m cash bid at a 17% discount tabled by Glenstone yesterday.
Jun 12
Glenstone, the largest shareholder in Alternative Income REIT $AIRE, makes a £56.3m, 70p per share cash bid for the company, which James Carthew @QuotedData thinks "looks a bit mean" at just 1.4% more than last night's price. quoteddata.com/2026/06/glens….
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“Solid” annual results from Picton Property #PCTN yesterday but no further on the joint bid from #LMP and #SREI which the board is still assessing.
Jun 12
Picton Property Income $PCTN still assessing the joint bid from LondonMetric $LMP & Schroder Real Estate $SREI after delivering “solid” annual results. "Picton’s results illustrate why I am sorry to see it be carved up," says James Carthew @QuotedData. quoteddata.com/2026/06/picto…
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Peter Singlehurst, head of private companies at Baillie Gifford & manager of Schiehallion #MNTN told CNBC the next question for BG trusts #USA #SMT #EWI #MNTN was “what is the right position size” for SpaceX as they held 14.5%-22% in #SPCX before the IPO. cnbc.com/video/2026/06/11/si…
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UK retail investors spent £271m on SpaceX shares with 61% receiving their full subscription but applications for over £2,000 were scaled back, said broker Marex. SPCX soared 19% to $160.95 or $2.1tn valuation, making it 6th biggest US-listed company. londonstockexchange.com/news…
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Jun 12
Sequoia Economic Infrastructure Income #SEQI, the £1.2bn debt fund, is considering expanding its geographical range beyond the UK, Western Europe, North America, Australia, and New Zealand to include Japan and South Korea. quoteddata.com/2026/06/morni…
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Social Housing REIT #SOHO, hailed as a “classic turnaround story” by #TRY manager Marcus Phayre-Mudge this week, was boosted by the Regulator of Social Housing awarding Inclusion Housing, its largest lessee, a compliant governance and viability rating. quoteddata.com/2026/06/morni…
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Gavin Lumsden retweeted
Jun 11
TwentyFour Select Monthly Income $SMIF says last month’s commitment by Andy Burnham to follow the Labour government’s fiscal rules if he replaces Kier Starmer as PM contributed to the credit fund’s cautious optimism after a turbulent half year. quoteddata.com/2026/06/twent…
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More than half of Finsbury Growth & Income’s #FGT companies have been on the receiving end of acquisition offers & activist action this year, which could spell either a turning point for the UK market or its continued compression, says manager Nick Train. citywire.com/investment-trus…
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Jun 12
Investor fears over the billions of dollars that Larry Ellison’s data company Oracle plans to pour into building AI infrastructure sent its shares down as much as 12% on Thursday, wiping more than $70bn from its market value.
thetimes.com/article/aaf827c…
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Former Fed chair Janet Yellen said the US central bank was at the greatest risk of “fiscal dominance” among advanced economies — a situation where monetary policy is subordinated to the goals of the government to keep borrowing costs low.
thetimes.com/article/e2c66c4…
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Jun 12
Individual investors bidding for shares in the SpaceX IPO have submitted more than $100bn in orders, according to Bloomberg.
thetimes.com/article/98f90b3…
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Jun 11
SpaceX shares could “double or halve in the next few days”, Scottish Mortgage manager Tom Slater tells Trustnet, warning #SMT shareholders to prepare for volatility as its 21% holding in Musk’s company (worth $3.5bn) launches in New York tomorrow. trustnet.com/news/13478154/s…
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Jun 11
I’m not sure what Marlton wants but James Carthew @QuotedData thinks putting #PAC into #ATR is a good idea.
Jun 11
$ATR a good fit for $PAC says James Carthew @QuotedData: “The Schroder team is well-regarded & has delivered decent long-term returns ... The lower fees, conditional tender offer, increased scale/liquidity, & cost contribution from Schroders are good news” quoteddata.com/2026/06/pacif…
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Chicago-based activist Marlton Partners criticises the £1.1bn merger of Pacific Assets #PAC and Schroder Asian Total Return #ATR announced today as “plain vanilla”. citywire.com/wealth-manager/…
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Gavin Lumsden retweeted
Jun 10
TR Property $TRY fund manager Marcus Phayre-Mudge's frustration at the impact of the Iran war on the investment trust's results was nothing to his anger at Unite $UTG for buying Empiric Student Property, calling it a "disastrous corporate acquisition". quoteddata.com/2026/06/tr-pr…
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