Funder managers to follow

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    Markus Enge


    Can recommend the following:

    Alluvial Capital Management, he looks at microcaps and writer behind:

    His take on Pegroco Invest AB seems interesting:

    “Pegroco Invest AB is a Swedish holding company with investments in several companies, both public and private. The last couple of years have been difficult ones for Pegroco. A subsidiary making modular data centers wound up in a contract dispute with a major European telecom, causing the subsidiary to collapse and leaving Pegroco on the hook for debt guarantees it had made. Then came COVID, which badly hurt profits for most other Pegroco subsidiaries and caused an aerospace-focused holding to fold. As a result, Pegroco canceled dividends on its listed preferred stock, paying none in 2020. Despite the challenging environment, all is not lost for Pegroco. The company’s largest investment is Nordisk Bergteknik (“Nordic Rock”). Nordisk Bergteknik performs rock handling, providing blasting, drilling, reinforcement, and more. Nordisk Bergteknik has grown steadily and recently raised capital from third-party investors at a valuation of SEK 1.7 billion. Pegroco’s 80%+ equity stake in Nordisk Bergteknik is now benchmarked at nearly SEK 1.4 billion after this financing, substantially higher than its value on Pegroco’s balance sheet. Pegroco Invest is exploring an IPO of Nordisk Bergteknik to take place in 2021. As Pegroco’s other operations recover and it considers monetizing part of its Nordisk Bergteknik investment, I am confident the flow of preferred dividends will resume in within a few quarters. Pegroco Preferreds offer upside return potential of 50%.”


    Markus Enge


    Few danish companies covered here so far. If you want inspiration I recommend:

    They have writeups on a couple of interesting companies, unfortunately in Danish.

    : AOJ is in the model portfolio.

    • This reply was modified 2 years, 2 months ago by Markus Enge.

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