Lansdowne Partners Ups Position in London-based IP Group Plc (IPO)

Lansdowne Partners, managed by Alex Snow, has raised its stake in the London-listed company, IP Group Plc (LON:IPO) to 72.48 million shares, equal to 15.26% of the company’s voting rights, from 64.34 million shares held previously. According to the filing, the stake has been raised due to IP Group’s acquisition of Fusion IP Plc.

IPGrouplogo

Holding company, IP Group Plc (LON:IPO) completed the acquisition of Fusion IP plc at the end of last week. Under the terms of the deal, disclosed in an earlier press release, the shareholders of the acquired company received 0.446 shares of IP Group, for each share of Fusion IP held. The total monetary value of the deal, amounts to roughly $144.9 million.  The portfolio of IP Group Plc (LON:IPO) is represented by over 70 companies, such as Oxford Nanpopore Technologies, Xeros, Revolymer, Activiomics, etc.

The company reported its 2013 results at the beginning of the month. According to the statement, IP Group Plc (LON:IPO) had net assets of around $557 million at the end of last year, up from $435 million in 2012. The adjusted profit before tax of the company amounted to $128.3 million, which represents a significant increase from $77.2 million posted for 2012.

In February, the shareholders of IP Group approved a capital raising plan, under the terms of which, the company plans to issue over 60.6 million Capital Raising Shares, which represent gross proceeds of approximately $165.3 million.

Lansdowne Partners’ has around $18 billion in Assets Under Management. The fund holds an equity portfolio worth $11.54 billion, invested primarily in Services stocks. JPMorgan Chase & Co. (NYSE:JPM) represents the largest holding, worth $1.23 billion, which contains over 21 million shares. Among other major positions are Amazon.com, Inc. (NASDAQ:AMZN) and Google Inc (NASDAQ:GOOG), in which the fund owns 2.74 million shares and 974,400 shares respectively.

Disclosure: none

Recommended Reading:

Lansdowne Partners Reduce Position in LSE-listed Central Asia Metals

Clinton Group Inches Down Stake in NutriSystem Inc. (NTRI); Advises Company To Buy Back Stock

Hedge Fund Cliffhanger at Cliffs Natural Resources Inc (CLF)

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!