Link Fund Solutions (LFS) has agreed to sell "a significant portion" of the stricken LF Equity Income fund's holdings to US firm Acacia Research Corporation for up to £223.9m.
The deal packages up 19 healthcare assets held by Neil Woodford's former fund, which comprise both listed and unlisted stocks including Theravance Biopharma, Oxford Nanopore and Rutherford Health. Woodford fund suspension one year on: Liquidity mismatch remains 'elephant in room' LFS confirmed the deal to investors on Friday (5 June), after reports emerged earlier in the week a deal was close. It is more than a 50% writedown to the values LFS had reportedly been close to securing from a consortium led by WG Partners, which fell through in February. Ryan Hughes, head of active portf...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
