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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| JZ Equity | JZE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 111.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 111.25 | 111.25 |
| Top Posts |
|---|
Posted at 30/6/2004 20:18 by jonwig The 2003R & A mentioned this litigation in the Chairman's statement: "In March 2003 the US Court of Appeal ruled in favour of Le Page's Industries Inc, a former portfolio company, ordering 3M Corporation to pay $68 million Tape-Monopoly award. The amount potentially due to JZEP is approximately $23 million ...3M has appealed." Today's announcement includes: "JZEP will receive approximately $25 million in ten business days from today's date as part of the overall judgement and accrued interest totalling approximately $87.5 million." I remember reading the original 2003 bit, and promptly forgetting about it. I don't know how typical an investor I am, potential good news is forgotten, potential bad news keeps me awake at night. Perhaps everything in index-linked gilts is the thing for me. Maybe, ram2, Prelude Trust should think about the phrase "allocated to income and capital"?? |
Posted at 13/6/2004 18:07 by rambutan2 for reference purposes...Jordan Co. Closes Inaugural Fund Dan Primack Oct 21, 2002 The Jordan Co. earlier this month held a first and final close on its inaugural private equity fund. The New York-based firm has been participating in middle-market buyout deals for over two decades, but the majority of those commitments have been made through a closed-end investment trust listed on the London Stock Exchange. This latest effort, named The Resolute Fund, was launched in March with a $1 billion target and received approximately $3 billion of investor interest before being capped at $1.5 billion. The two most senior members of The Jordan Co. are co-founders John "Jay" Jordan and David Zalaznick, a pair of investors who met up in 1980 to bootstrap buyout deals for Karl Marx & Co. After approximately 20 transactions, the pair launched their own firm and continued soliciting I-banks on a deal-by-deal basis until creating the closed-end investment trust, named JZ Equity Partners, in 1987. While that vehicle didn't reflect the more standard GP/LP structure, it offered significant tax benefits and kept Jordan in the mix when it came to LBO opportunities in the industrial and manufacturing sectors. Between 1997 and 2001, The Jordan Co. invested approximately $600 million, but had to slough off approximately $125 million more on other equity sponsors because of capital constraints. Such frustrations helped lead the firm toward the realization that it needed to up its own ante, at which point it hired Atlantic-Pacific Capital Inc. as its placement agent. "This is technically their first fund, but Jay and David have been doing this for a long time, and six of the partners have been there since 1990," said Atlantic-Pacific's Peter Zidlicky. "Maybe firms like KKR have more people who have been there longer, but these guys are very good from a track record perspective with realized numbers at more than a five times multiple." Zidlicky added that the new fund is expected to invest in between 15 and 18 portfolio companies, some of which will be strict value plays with cash flow multiples of 5X or 6X, while the rest will be potential platform or add-on investments. "Even though they raised $1.5 billion, this is still a middle-market firm," he said. "The only real difference in terms of their types of investments will be that they've shifted a bit from only doing their bread-and-butter rust belt deals to also investing in services-oriented types of things." Some of The Resolute Fund's largest limited partners include: Abbott Capital Management, Adams Street Partners, AMR Investments (American Airlines), HarbourVest Partners, NIB Capital, Pantheon Ventures, Pathway Capital Management, Teacher Retirement System of Texas and the Government of Singapore. Approximately 15% of the fund's LPs were from Western Europe, including a large number from the UK. Contact Dan Primack |
Posted at 30/5/2001 09:13 by brnf The discount on this trust is wide, but deservedly so. It only values its holdings once a year. When it does, it uses an opaque process. It publishes next to no information about what it is up to, except what is required by statute. No friendly investor relations people here.Having said that, the managers have an excellent track record in value situations and so JZE is a very good counterbalance to a portfolio which is rich in tech stocks. In this context, although JZE is opaque, it is no more risky than any individual share and it is a one hit stop for US small company old economy exposure. Americans still buy their burgers at Burger King... |
Posted at 13/2/2001 11:20 by 20club Yes, the discount to NAV is 26.5%.This is big, but some of their investments must be hard to value. Nevertheless, some institutions are buying: QUOTE Name of shareholder having a major interest: MERCHANT INVESTOR ASSURANCE COMPANY LTD 3 Please state whether notification indicates that it is in respect of holding of the shareholder named in 2 above or in respect of a non-beneficial interest or in the case of an individual holder if it is a holding of that person's spouse or children under the age of 18: 4 Name of registered holder(s) and, if more than one holder, the number of shares held by each of them: BANK OF NEW YORK (NOMINEES) LTD 5 Number of shares/amount of stock acquired: 750,000 6 Percentage of issued class: 0.72% |
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