Laxey Partners has increased its stake in real estate company Raven Mount from 5.8 percent to 10.8 percent, according to a statement on the London Stock Exchange.
Though the statement issued by Raven Mount does not disclose further details, it is thought the increased investment could be on behalf of Laxey’s new vehicle, the Terra Catalyst Fund.
The Terra Catalyst Fund raised £116m (€147 million; $231 million) on London’s Alternative Investment Market (AIM) last month to exploit the severe correction in real estate share prices in the UK and beyond.
Shares in Raven Mount have fallen 50 percent to 70 pence a share within the last 12 months. Like the Terra Catalyst Fund, Raven Mount is also listed on AIM.
The company principally operates in property fund management, property development and the development and operation of independent living facilities.
The company was founded in November 2003 by executive chairman Anton Bilton, chief executive Bim Sandhu and Glyn Hirsch, executive deputy chairman.
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