UK Support Services – Investor Monitor
This will be a regular quarterly review, highlighting key investor movements across the UK quoted support services sector. We noted a material divergence between larger and smaller companies with investor trading flows negative on the larger peer group regardless of investor geography and size.
UK Real Estate – Investor Monitor
This will be a regular quarterly review, highlighting key investor movements across the UK quoted real estate sector. This analysis suggests that the initial post Brexit fears of overseas capital flight have been overblown, with overseas investors increasing their UK exposure (especially in the sub £1bn peer group) and UK investors selling.
Next Fifteen Communications Plc – Initiation of Coverage
Over the last three years the market has rewarded Next Fifteen for strong, consistent double digit North American organic growth. The high dollar exposure continues to be a positive tailwind. However, substantive progress outside the US has been overshadowed. Margins (ex US) have improved substantially and the shape of the UK business has been transformed.
North Americans go bargain hunting in UK listed sector
The biggest North American investors in UK listed property companies significantly increased their holdings immediately following the EU referendum and have since switched from investing in the biggest REITs to smaller companies, data from Radnor Capital Partners has revealed.
UK Media – Investor Monitor
This will be a regular quarterly review, highlighting key investor movements across the UK quoted media sector. This analysis suggests that the immediate post Brexit selling was concentrated among the larger, more liquid names. However, small and mid cap media saw strong buying interest from both UK and European investors.
Radnor acts in Capital Advisory role to Pacific Industrial & Logistics REIT
Radnor Capital Partners is pleased to announce that it recently advised on the successful secondary placing by Pacific Industrial & Logistics REIT, raising £11.1m of fresh equity.
Acting in a Capital Advisory capacity, Radnor introduced the company to a broad range of new investors and advised the company throughout the fundraising process. This fundraising will enable Pacific to capitalise on its pipeline of smaller lot size industrial and logistics properties, as well as laying the foundations for the future growth of the business.
Despite an unpredictable 2016, we have continued to build both our retained and project client base. Encouragingly, we have positive momentum heading into 2017. Our unique combination of independent advice, advocacy and access to investors and capital is proving increasingly relevant for corporates. We recognise the market may be changing but corporate expectations have not.
Richard Moffitt, CEO of Pacific Industrial & Logistics, commented:
“Radnor Capital Partners bought clarity and energy to our successful fundraise. Their clear advice was timely and relevant and the investors they introduced will provide the foundations for our growth plans.”
Tom Durie, Managing Partner of Radnor Capital Partners, commented:
“This successful fundraising from institutional and Private Client Fund Managers comes towards the end of a promising first year for Radnor Capital Partners. We look forward to working closely with Pacific and assisting the future growth of their strategy.
This transaction sums up our approach of clear, relevant and impartial advice coupled with our deep investor relationships. We are delighted with our progress to date and are looking forward to taking that momentum through into 2017.”
Analysis of Brexit Questionnaire
Radnor Capital Partners conducted a short questionnaire with Fund managers after the Brexit referendum. The results concluded that fund managers found it difficult to find value, yield and a return.
Sterling’s fall sucked in overseas investors into UK listed property
Research by Radnor Capital Partners showed that following the Brexit referendum there had been strong interest from overseas investors in UK listed property. The fall in the value of Sterling, undoubtedly was a key factor.
Dutch investor activity in UK quotes real estate
Amsterdam has long been a fixture in investor road show schedules for UK listed property companies. But is this a good use of management time? Research by Radnor Capital Partners suggests that a reduction in exposure to UK quoted small and mid-cap property that started in H1 2015 has accelerated since the start of 2016.