Live From the Desk

Ready, Set…

“You can observe a lot by watching.” Yogi Berra Market volatility this year has masked the fact that year-to-date returns have left many feeling stuck in the doldrums. However, there have been some encouraging announcements recently which make us optimistic for positive events down the road. Specifically, we’ve noticed that some private companies are interested …

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M&A Update: Capital Power Income LP Closes We thought that given the unique nature of this deal and the surprise bump we received upon closure we would share with you this particular situation. The acquisition of Capital Power Income LP (CPA-u) by Atlantic Power (ATP) recently closed and it’s a good example of how technical …

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Bond Spreads Ace Cash Express released their earnings at the end of September. We own the 11% 2/1/2019 Senior Secured bond in both the Enhanced Income Fund and the Vertex Fund. Traditionally, the cheque cashing industry received funding from private investors at a rate of 20% annualized. By issuing bonds, the companies lowered their cost …

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Live From the Desk 10

Catalyst Investing The Vertex Fund and Vertex Growth Fund invest in a variety of situations that fall under the umbrella of catalyst investing. There are many types of opportunities in this category. The following are some examples: Mergers and acquisitions Companies that have put themselves up for sale Shareholder activism Refinancings Shares repurchases and Dutch …

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Over our Shoulder You are only as wise as the information you receive, so with that in mind, we try to read as much as possible to stay informed. We thought we would share some examples of what we have been reading lately. Enjoy your Labour Day Weekend! Recent Articles of Interest: Why This Crisis …

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