LONDON (Alliance News) - Chenavari Capital Solutions Ltd said Friday that its net asset value rose 1.16% to 102.08 pence in the second quarter to the end of June.
The investment company said that it had participated in two transactions during the quarter, and continued to be active in secondary trading. It is currently 67% invested in primary and secondary transactions, and has committed to two new primary investments to be funded by the end of September totalling GBP24 million.
It said that whilst this investment is a little slow than its initially expected ramp-up, it "reflects the urgency of some investment managers to deploy capital at any cost, which have driven returns on some transactions to levels at which the Investment Advisor has been happy not to participate."
As at June 30 it had net assets of GBP133.0 million. It said there has been no significant change in its financial position since June 30.
Shares in Chenavari Capital were trading down 0.1% at 106.23 pence Friday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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