5th Jul 2022 12:26
Foresight Group Holdings Ltd - Guernsey-based infrastructure and private equity investment manager completes the acquisition of London-based investment firm Downing LLP's non-healthcare venture businesses.
In June, Foresight announced it bought the technology ventures division with Downing LLP, as well as the management of Downing's venture capital trusts and the Enterprise Investment Scheme for an initial GBP13.6 million. The businesses are namely Downing One VCT PLC, and Downing Four VCT PLC. Downing One notes that its investment services agreement has been changed to Foresight from Downing. Meanwhile, Downing Four states its investment management agreement has been changed to Foresight from Downing.
The acquisition is expected to increase Foresight's VCT net asset value to GBP542 million, as well as private equity assets under management to GBP1.2 billion.
Current Foresight Group Holdings stock price: 390.50 pence
12-month change: up 4.8%
Current Downing One VCT stock price: 55.00p
12-month change: down 4.8%
Current Downing Four VCT stock price: 4.00p
12-month change: down from 900p
By Tom Budszus; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.