VANCOUVER, January 26, 2023 - PenderFund Capital Management Ltd. (“Pender”) is pleased to announce a successful first close of $50M for the Pender Technology Inflection Fund II (“PTIF II” or “the Fund”). The Fund is managed by Pender Ventures, the technology venture capital arm of Pender. Pender Ventures is targeting $100M for the Fund, and […]
Highlights Our equity exposure to energy companies led the way with Spartan Delta Corp. (TSX: SDE), ARC Resources Ltd. (TSX: ARX), and Texas Pacific Land Corporation (NYSE: TPL) among the top five contributors. Defense contractor Northrup Grumman Corporation (NYSE: NOC) was also among the top contributors. CCL Industries Inc. (TSX: CCL.B) was a detractor however […]
Highlights The Fund had a nice recovery in the fourth quarter with a return of 9.7%. Maxar Technologies Inc. (TSX: MAXR) was a top contributor to the portfolio after private equity firm Advent International made a bid to acquire the company at a large premium. Maxar was a long-term holding in the portfolio, and we […]
Highlights The Fund’s positive performance was driven by proceeds from several SPAC liquidations and redemptions, tightening of some wide-spread merger arbitrage deals, and the closing of several merger deals. The Fund had its highest positioning in SPACs since inception to benefit from a wave of early liquidations or redemptions with much of that capital redeployed […]
In December, Pender and our employees contributed a combined $64,760 to food banks across Canada. In a virtual donation drive for the Greater Vancouver Food Bank (GVFB) employees raised over $17,355, with the firm matching each donation, as well as making an additional donation, bringing the total to $54,520 for the Vancouver Food Bank alone. […]
"When we’re relentlessly exposed to too much information, we just can’t cope. So, we reach for shortcuts to help us get through the day." Given how unreliable expert predictions are, why do we pay attention to them, asks Pender's Felix Narhi. Read his latest article in Globe Advisor. Click here to read
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