All Insights

VANCOUVER, B.C., September 21, 2023 - Pender Ventures is pleased to announce that Co-operators, a leading Canadian financial services co-operative, has made a strategic investment in Pender Ventures’ second fund, the Pender Technology Inflection Fund II (“PTIF II” or the “Fund”). Co-operators’ investment advances PTIF II closer to its target size of $100 million and […]

Highlights The Fund initiated positions in 20 new or previously announced mergers, while nine merger deals held within the Fund closed during the month. Performance was impacted by a regulatory challenge to a merger deal held by the Fund and the widening of spreads in certain other deals driven by regulatory approval delays and extensions […]

Creating liquidity through exits. Moderated by David Dufresne, Partner, CMD Capital chats with Maria Pacella, Managing Partner of Pender Ventures, Anne Phan, VP, Corporate Development at Wealthsimple and Brent Holliday, Founder & CEO of Garibaldi Capital Advisors. They discuss the final phase of the venture cycle.

Highlights • The Fund benefited from volatility in credit markets with a bias to protecting capital. • The Fund’s exposure to event-driven positions was significantly reduced. The Pender Alternative Absolute Return Fund finished August with a return of 1.2%, bringing year-to-date returns to 5.2% . Following two months of decreasing risk premiums and volatility, both […]

“A rolling loan gathers no loss”. Geoff Castle hosts Winnie Cisar, Global Head of Strategy for CreditSights for a follow up to their May 2022 chat. Geoff and Winnie jump right into discussing how to navigate credit markets in the current climate. There’s a lot to cover as they touch on the latest remarks from […]

Highlights: • Positive contributors to the Fund were Cineworld Group PLC and Federal National Mortgage Association (Fannie Mae). Detractors included Canadian rate-reset preferred shares due to negative price momentum, and Emergent BioSolutions, which we have added to on price weakness. • New positions include Nuveen Quality Municipal Income Fund (NAD US Equity), a closed-end fund […]

Pender Growth Fund Inc. (the “Company”) today announced its financial and operational results for the three months and six months ended June 30, 2023. Financial Highlights (Unaudited) Net income was $41,217 for the three months ended June 30, 2023 (June 30, 2022 – Net loss $58,521,457). Investment performance was neutral in the quarter. Net income […]

Highlights: July was an active month for the Fund as we continued to harvest returns from closed merger deals and reinvest that capital in new mergers. Merger arbitrage spreads continued to remain at wide levels in July following an expansion of spreads in June with some key catalysts on larger merger deals resulting in a […]

Highlights The broad-based rally provided an opportunity to sell liquid high-yield positions at prices that we viewed as fully valued. There were several positive developments within our Event Driven book including Black Knight Inc. (NYSE: BKI), Arconic Corp. (NYSE: ARNC), and PDC Energy Inc. (NASDAQ: PDCE) We are watching commercial real estate where defaults mount […]