Quarterly results for the three months ended 31 March 2021 (unaudited) · NAV total return per share for the three-month period of -0.3%. · NAV of 480.67p per share as at 31 March 2021. · Quarterly dividend of 4.35p per Ordinary Share. Introduction As at 31 March 2021, the net assets of the Company were £355.4m, giving a Net Asset Value ( NAV ) per share of 480.67p, which taking into account the dividend of 3.99p paid on 29 January 2021, gives a decrease of 0.3% over the quarter. Exchange rate movements reduced the overall valuation by approximately 1.5% over the quarter. With the discount narrowing to 22.6% as at 31 March 2021 the share price total return for the period was an impressive 22.5%. The discount has continued to narrow and is currently 14.9%.
UK private equity firm Inflexion is reportedly targeting £2bn for its sixth flagship buyout fundraise.
Fund VI is set to be 60% larger than Fund V according to a new report from the Wall Street Journal, which cited unnamed people it said were familiar with the fundraise.
The $51bn-managing llinois Municipal Retirement Fund had previously agreed to commit up to £175m to Inflexion Buyout Fund VI, the latest of a string of previous investments from the LP in Inflexion vehicles totalling more than £400m.
Inflexion’s latest fundraise comes on the back of a series of impressive exits, most recently the sale of Kynetec to Paine Schwartz Partners, which AltAssets understands scored its a 3x return.