Jim Strang

#Hargreaves_Lansdown Hargreaves Lansdown backed the £5.4 billion bid for the FTSE 100 fund manager today from a private equity consortium, a deal that will end its time as a listed company. The Bristol-based finance firm has been listed in London since 2007. It said today that the final offer valued its shares at 1140p in cash and would include a 30p per share dividend for the financial year which ended on 30 June. Compared to the Hargreaves Lansdown share price before the approach was first made in April, the price is at a premium of over 54%. The consortium is made up of CVC, Nordic Capital and ADIA. Hargreaves Lansdown is named after its founders – Peter Hargreaves and Stephen Lansdown – who set it up as an investment tip sheet. It now runs a state-of-the-art trading platform from which clients can run their own portfolios and pensions. https://lnkd.in/dKpizupy

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Great webinar with FT Live on the Global M&A Outlook in the EMEA Region. There is a feel of the optimism in EMEA’s M&A landscape, with private equity leading the charge and valuations on the rise. Geopolitical certaintly, growth agenda, and interest rates certainly will provide confidence in the market, therefore, the future is looking really good. #wheredealsaremade #privateequity #mergers

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While institutional investors have made good progress incorporating DE&I principles into their own organisations and into interactions with consultants and asset managers, our independent Impact Lens report uncovers a surprising discrepancy. ‘Navigating diversity, equity & inclusion – an asset owner perspective’, sponsored by Jupiter Asset Management, shows a marked lack of engagement on DE&I in investors’ underlying portfolio companies. #Diversity #Inclusion #PensionsforPurpose https://ow.ly/mEuG50RpULL

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Continuation funds: Guernsey's fast and cost-effective solution. In his recent article for the Financial Times, James Cousins, Partner at Mourant, explores why fund managers are increasingly turning to continuation funds as an alternative means of returning cash to investors, and why Guernsey makes the perfect domicile for these funds. Read the article here: https://okt.to/Zdu49K #GuernseyFinance #Funds

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“The potential PE approach is another illustration of the disconnect between valuations of high-quality UK smaller companies and equivalent private market transactions.” 💬 Ken Wotton, Fund Manager of Strategic Equity Capital plc, discusses ALPHA FINANCIAL MARKETS CONSULTING LIMITED (AFMC) recent takeover offer, which he highlights as an example of private equity giants exploiting distressed UK small cap valuations. Recent negative investor sentiment around UK markets has particularly impacted small caps trading at considerable discount to blue chips, which have scaled to record highs this year. However, Ken believes valuations on UK-listed small-caps have become even more compelling relative to large-caps, global equities, and private markets. On this basis, he expects takeover valuations to remain elevated, driving the potential for selective re-ratings across the market. https://lnkd.in/gmEPCJmh #ukequities #publicequity | Capital at risk. Not an investment recommendation. Past performance is not necessarily a guide to future performance. Opinions are the fund managers own and not necessarily those of Gresham House. 

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Private equity's recent performance has raised eyebrows, but should investors be worried? Oliver Gardey, head of private equity fund investments at ICG Enterprise Trust, doesn't think so. In a recent interview with PitchBook, he shared insights on navigating challenging markets and why long-term optimism in PE remains strong. Despite low returns in Q3-Q4 2023, Gardey emphasizes the enduring value of buyouts and the importance of selecting top-tier managers for sustainable growth. Read the full interview for a deeper dive into PE's resilience: https://lnkd.in/e-W3-JK6 #privateequity #privatefunds #investmentreturns

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Listed PE firms holding $722bn in ‘dry powder’ - https://lnkd.in/eWq-xn9j TOP STORY: Earnings data compiled by Bloomberg has revealed that listed PE firms are amassing significant capital ahead of a resurgence in dealmaking, with seven major firms reporting a combined $722bn in dry powder as of 30 June, a 9% increase from the previous year.

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The latest Impact Lens research from Pensions for Purpose, sponsored by Jupiter Asset Management, outlines universal DE&I best practice applicable across asset owner organisations. Although the recommendations vary in complexity, our report offers institutions a roadmap to enhance their internal and external DE&I initiatives. #Diversity #Inclusion #PensionsforPurpose https://ow.ly/4FRV50RpULV

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The private capital landscape is seeing some exciting shifts, especially when it comes to giving fund managers more flexibility. Take the recent partnership between Investec and Ares Management—an approach designed to support fund managers with much-needed subscription line facilities in the UK, Europe, and beyond. This sort of collaboration shows how innovative finance can help meet the increasing demand for liquidity, particularly in the mid-market. For fund managers, having the right financial guidance can be invaluable. The structuring them in a way that aligns with growth ambitions and gives managers the confidence to act quickly when opportunities arise. That’s where strategic advisory comes in, helping to craft bespoke financial solutions that serve immediate needs while supporting long-term stability. It’s clear that as market demands evolve, so too must our financial solutions. With tailored advice, fund managers are better placed to secure sustainable growth in a way that makes sense for their strategy. https://lnkd.in/ek3TkgwR

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Independent research company Monterey Insight has released the 30th edition of its Guernsey Fund Report, which provides an annual independent review of the market shares of all service providers in Guernsey’s fund industry.   The report highlights that Mourant advised on 222 Guernsey funds in 2024, with an overall value of US$77 billion, and that we advised on the most non-domiciled funds in Guernsey in the year being assessed.   See more highlights in our summary below, and learn more about our Guernsey Investment Funds team here: https://lnkd.in/g67jGzgx

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Navigating Growth in the UK and Ireland: https://lnkd.in/eg2sv4v5 Sylvain Agar, head of distribution for the UK & Ireland at Principal Asset Management, discusses the firm’s strategic priorities in funds distribution https://lnkd.in/eg2sv4v5 #funds #investment #funddistribution #UKfunds

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Excellent role modelling

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This is exactly what we hear from the VCs that we back. In the UK, there is no shortage of capital for world-class founders. There is a shortage of world-class founders. We need to create the conditions where the very best founders choose the UK as the place to build their companies. If we do this, then the capital will follow. Strong-arming UK pension funds to invest in UK VC funds or, even worse, directly into UK companies, is not the answer. For a more detailed view on this, please see the white paper we published last year on the Mansion House initiative. https://lnkd.in/e86HSxrY

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In the recently published 𝗔&𝗠 𝗔𝗰𝘁𝗶𝘃𝗶𝘀𝘁 𝗔𝗹𝗲𝗿𝘁 (𝗔𝗔𝗔) 𝟮𝟬𝟮𝟰 𝗜𝗻𝘁𝗲𝗿𝗶𝗺 𝗢𝘂𝘁𝗹𝗼𝗼𝗸, the team presents five key predictions for shareholder activist activity in Europe over the next year. 1. Increased M&A activity will be a key driver of shareholder activism; 2. There will be greater focus on public to private transactions; 3. Operational transformation will be an additional value-add for activists; 4. Internal vs external capital allocation decisions will come under greater scrutiny; 5. The desire for near term investment yield will slow the ESG momentum. Find out more in the latest Activist Alert: https://okt.to/A5fV7s #ActivistAlert #Activism #Europe

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Interesting thoughts from Houlihan on Direct PE (and the maturation of the market around independent sponsors) - "global volume (will) rise from $6 billion in 2019 to an estimated $50 billion this year, with annual deal numbers tripling over that period. We’ll see over 780 transactions this year... Directs have the promise to account for half of all annual capital raised for private equity in 10–15 years." #privateequity #independentsponsors

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In the News | Fairtree acquires minority share in MidSquare Capital We are delighted to share that Fairtree Capital, our holding company, has acquired a minority equity stake in MidSquare Capital, a boutique asset manager specialising in cryptocurrency and decentralised finance. Kobus Nel, Fairtree Group CEO, commented: “Although Fairtree Capital is only acquiring a minority stake in MidSquare, we are excited to invest in this highly respected team of investment professionals. Their extensive experience, industry-leading expertise in asset management, and conviction in the investment potential of digital assets are invaluable in navigating the complexities of the constantly evolving digital asset space. The partnership is founded on shared values, including our commitment to investment excellence. We look forward to travelling this journey with MidSquare.” Read the full press release> https://lnkd.in/e49tEDPn #Fairtree #ValuesDrivenInvesting #InvestmentExcellence

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If anyone would like hear my thoughts on stressed and distressed acquisitions please book your place on the link below or give Lizzy Tindall a shout

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What is a VCT? - 💡Venture Capital Trusts (VCTs) are complementary to the Enterprise Investment Scheme (EIS), in that both are designed to encourage private individuals to invest in smaller high-risk unquoted trading companies affected by the equity gap. 💰💼 Discover our infographic below which offers insights on VCTs and their qualifying conditions. Got some questions? 💬 Get in touch with our team today at [email protected] or for more information on our services, visit our website here ➡ https://lnkd.in/eD27gygE #taxadvice #taxadvisory #tax #taxtips #trusts #vct #venturecapital

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