Ludgate also exits agri.capital
Ludgate Environmental Fund - a listed vehicle managed by Ludgate Investments - has fully exited German biogas energy producer agri.capital GmbH, reaping a €16.3m cash return.
Ludgate saw the value of various instruments it held against agri.capital redeemed by the company, using funds from the recent Alinda Capital Partners investment.
Independent infrastructure firm Alinda Capital Partners acquired a majority stake in agri.capital from its shareholders and will invest more than €300m in the company over the next three years. Frog Capital, which held a stake in agri.capital, fully exited the company as well.
Ludgate Environmental Fund invested a total of €11.3m in agri.capital over three growth capital deals since 2008. The exit resulted in an increase of 5.8p per share – from the 98.6p per share NAV at 31 December 2010 – for the listed vehicle.
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