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)

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
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 Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!