In QuotedData’s morning briefing 29 August 2024:

• CT Private Equity (CTPE) has published its interim results for the six months ended 30 June 2024, during which it provided NAV and share price total returns of 0.8% and -4.5% respectively. CTPE says that it benefited from strong realisations and associated income in the period of £52.3m, which represents an increase of 31.4% compared to the same period last year, while realisations in the first half were at a 35% premium to prior valuation. Total quarterly dividends of 14.02p per share have been year to date, with a 12-month trailing yield of 6.5% based on the year-end share price. As at 30 June 2024 net debt was £91.3 million equivalent to a gearing level of 15.5%. The outstanding undrawn commitments were £206.9m of which £25.7m was to funds where the investment period had expired.
• BBGI Global Infrastructure (BBGI) has published both its interim results for the six months ended 30 June 2024 and its 2023 Sustainability report. During the period, BBGI provided an NAV total return of 2.4%. BBGI says that it benefited from strong operational performance from its portfolio during the period and that its dividend, which is well covered at 1.47x, increased by 6% to 8.40p per share for 2024. BBGI says that it is well positioned for the future with no cash drawings on the revolving credit facility and net cash of £20.6m.
• Gore Street Energy Storage (GSF) has published its ESG and Sustainability Report for its 2023-24 financial year. GSF says that the latest report reflects a significant year of growth for the company, with a 45% increase in energised capacity of the portfolio to 421.4 MW. GSF’s operational fleet avoided 15,178 tCO2e and stored 26,232 MWh of renewable electricity during the year.
• NB Distressed Debt has published its interim results for the six months ended 30 June 2024. Its chairman, John Hallam, says that he is disappointed to report that the significant realisations that had expected to occur during the first half of this year have not yet materialised. He adds that, while the reasons for this are varied, such as the European economic environment which has not been favourable for a capital market exit, changes in regulations and extended negotiations on specific investment sales, the company is engaged and focused on harvesting the investments and returning capital to shareholders. As at 30 June 2024, the company had returned a total of $132.8m or 107% of NBDD investors’ original capital of $124.5m, $326.9m or 91% of NBDX investors’ original capital of $359.4m and £67.4m or 61% of NBDG investors’ original capital of £110.8m. Hallam says that they remain in what they hope to be the final stages of harvesting a number of investments and will keep investors informed as these occur. Hallam says that it is the company’s intention to fully harvest NBDD during the next 12 months, subject to market conditions. He adds that the board continues to monitor all costs to ensure that they are appropriate. He notes that shareholders may be concerned about the impact of costs on a reducing portfolio during the harvest period and reminds shareholders that the investment manager no longer charges any fees.

We also have:

• Apax Global Alpha’s investment in Veriforce
• Life Settlement Assets’ update on the MBC settlement