Invesco Advisers, Inc., a subsidiary of Invesco Ltd., has announced changes to the portfolio management teams for three Invesco closed-end funds. The changes took effect on March 18, 2024. The portfolio management teams for each fund now include individuals who have been associated with Invesco and/or its affiliates since 2010 or 2016.
In a recent announcement, Invesco Advisers, Inc., a subsidiary of Invesco Ltd., revealed changes to the portfolio management teams for two of its closed-end funds. The affected funds are Invesco California Value Municipal Income Trust and Invesco Trust for Investment Grade New York Municipals. The changes involve the appointment of new individuals who will be jointly and primarily responsible for the day-to-day management of the portfolios. The announcement clarified that it does not constitute an offer to purchase or sell shares of the funds. Invesco Ltd. is a global independent investment management firm with offices in more than 20 countries and managed $1.59 trillion in assets as of December 31, 2023.
The portfolio management changes for the three Invesco closed-end funds took effect on March 18, 2024. The changes involve the inclusion of individuals who have been associated with Invesco and/or its affiliates since 2010 or 2016. Invesco Ltd. is a global independent investment management firm with offices in over 20 countries and $1.59 trillion in assets under management as of December 31, 2023.
In other news, US fund Platinum Equity has acquired a majority stake in Mumbai-based pharmaceutical company Inventia Healthcare for a valuation of Rs 2,500 crore ($300 million). The deal sees existing private equity investors InvAscent Capital exit their investments, while the promoter and family have sold a part stake. Platinum Equity, which manages over $48 billion in assets, is known for its expertise in the healthcare sector. The promoter family will retain a minority stake and continue to manage the business. Rothschild and Stifel Financial Corp advised the funds, while Barclays advised Platinum. [23e56eeb]