Another private credit fund limits redemptions:
“The firm’s $15bn Apollo Debt Solutions fund pitched to wealthy individual investors reported roughly $2.4bn of withdrawal requests in the most recent period. The fund met less than 30 per cent of the withdrawals it faced in the quarter, capping redemptions at 5 per cent of the value of the vehicle” — Financial Times
#privatecredit #markets #investing #investors
@alandelmonte Yes, it looks like they haven’t tried to change much to it. Maybe they’ll come back and sponsor the Gold Cup in November again! https://t.co/sesZb7ekrI
This is just sublime 😮
From above: King of the Banks and five-time Glenfarclas Cross Country winner, Enda Bolger, schooling his horses
🎥 @Punchestownrace & Baxter_Edits
@JohnWathenBerry@WilliamsStuart@RCFarquhar@captainnash@NewburyRacing The dividend is coming from the development of 1,500 homes where they received £10.7m in December. The only real way of returning it as cash to shareholders from the profits on the land is via a dividend.
@JohnWathenBerry@WilliamsStuart@RCFarquhar@captainnash@NewburyRacing I get what your saying and he’s a trustee at the IJF where I’m sure he’s doing it there for those reasons. Newbury though is a business worth £28m and to attract someone who was vice chairman at a $75 billion company generally comes with a fee.
@JohnWathenBerry@WilliamsStuart@RCFarquhar@captainnash@NewburyRacing They do disclose fees to their non-executive directors (NED) as a whole of £90k in 2021. This is split between 8 NEDs which includes the chairman. Looks like fees were waived in ‘20 and prior to that was £60k.
@JohnWathenBerry@WilliamsStuart@RCFarquhar@captainnash@NewburyRacing According to the report, the chairman has 208k shares in Newbury Racecourse Plc - not paid £208k in the year. However, he did receive dividends equating £187k from the £3m dividend. The dividend looks to be from the sale of land so regarded more as non operating income.