Further blow to Woodford investors as £550m deal falls through - reports

Fire sale could be forthcoming

A deal to find investors to buy a portfolio of biotech start-ups held in the LF Equity Income fund for £550m has fallen through, according to reports.

PJT Park Hill, the company tasked with offloading the illiquid part of the fund's portfolio, formerly run by Neil Woodford, gave a period of exclusivity to WG Partners to assemble a group of investors interested in buying a large portion of the companies, The Sunday Times reported. WG Partners, an investment bank that specialises in arranging life sciences deals, was said to have trawled both America and China to find investors, but is understood to have missed the deadline set by Park Hill. Update: Cost to Woodford investors revealed The deal, which is understood to have included ...