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Sigma Capital

  • BY: Andrew Hore |
  • POSTED: 27/09/2007 |

A new property limited partnership launched by Sigma Capital this year helped the asset management group nearly double its interim profits.

Setting up its sixth limited partnership to acquire a 5-star hotel in Glasgow generated £4m in fees. Group revenues were £4.9m, up from £3.5m, in the six months to June 2007, which represents a solid increase in non-property management revenues. The pre-tax profit increased from £892,000 to £1.57m.

There was an unrealised gain on investments of £165,000 - partly down to cash machine advertising company i-design which recently floated on Aim. The Sigma Sustainable Energy Fund II has raised £45m and will stay open until next June or when it reaches £100m. The fees on any funds raised from now on will be back dated to June 2007.

Sigma has more than £7m of cash in the bank following a share placing raising £3.4m. That’s nearly one-third of its market value. The interests of Sir Tom Hunter and Vincent Tchenguiz subscribed for the shares and they each have a stake of around 10%. 

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