IMF Bentham sells US portfolio

Company News

by Kathy Skantzos

Global litigation fund IMF Bentham (ASX:IMF) has announced the sale of its US investment portfolio to the IMF Bentham Fund 1 through its wholly owned subsidiary Bentham Capital.

IMF will see net cash of approximately US$47.8 million, while also retaining a material interest in the sale portfolio through its participation in the fund.

In addition, Fund 1 will upsize to US$166.3 million from US$133 million.

IMF will be entitled to 85 per cent of any profits on the sale investments realised by Fund 1 after payment of preferred dividends and other expenses of the fund.

The company will retain ownership of five investments in the US investment portfolio.

Shares in IMF Bentham (ASX:IMF) closed just over 4 per cent higher on Friday at $3.32.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.