Portfolio 2017-12-04T16:51:50+00:00
Significant Holdings Deal type % ownership of the company % of total portfolio Value***
Secondary – growth and re-rating; reinvestment of cashflow  12.1%  40.5%  17.3m
Shares held directly in GHS portfolio, includes:  10.3%  31.8%  £12.9m
  • Shares held subject to co-investment agreement with Gresham House Strategic Public Equity LP (SPE LP)
  • Shares expected to be held throughout the term of the SPE LP co-investment agreement
Shares subject to potential automatic sale to the SPE LP at 193.5p per share, pending further fund raising within the SPE LP  1.8%  5.3%  £2.2m
Total interest in IMImobile  12.1% 37.1%  £15.1m
northbridge Recovery and growth capital 11.4%  7.3%  £3.1m
    Convertible Loan Notes n/a 4.2% £1.8m
 Growth capital supporting buy & build strategy 9.5% 5.9% £2.5m
   Secondary – operational gearing and AUM growth 2.5%  4.1% £1.8m
   Pre-IPO growth capital
Convertible Loan Note/equity
 n/a  5.0% £1.7m/£0.4m
   Secondary – Operational initiatives, organic growth and acquisitions 2.1%  3.1%  £1.3m
  Primary – Growth through site rollout with attractive cash generation and return on capital dynamics 4.6%  2.9%  £1.3m
   Secondary; cash generation to reduce debt, potential growth capital to support future acquisitions  4.4% 2.7% £1.2m
   Secondary – Margin recovery and growth  16.2% 2.1% £0.9m
   Secondary – Strategic refocus, operational initiatives 2.1%  3.3% £1.4m
   Primary – New Equity issue to support growth following shift in business model 1.4% 2.0%  £0.9m
   Recovery Capital 3.1% 2.1% £0.9m
 Other Investments 4.8%  £1.9m
 Cash (GBP) and other working capital items 10.0% £4.3m
 Net asset value £42.7m


*All holdings in the portfolio above 2% of NAV.

**Correct as of 30 November 2017 month end NAV announcement, released 1 December 2017

*** Value has been rounded to 1 decimal place of a £mil