Business & Investment

Sir Spencer’s investment empire in City Grande revives

Sir Spencer’s investment empire in City Grande revives

Sir Spencer’s investment empire in City Grande is ready for a resurrection.

Trade tycoon Spencer, who was seated at the House of Lords last month, saw a total loss of £ 12m in his investment vehicle IPGL Holdings during the year ending March 31, 2020.

This was supported by the sale of shares on the NEX Stock Exchange for £ 91m, following a profit of £ 88.80m in the previous year.

Assistance: Conservative donors and former Tories treasurers make £ 1.4 million political contributions

The value of the asset was flat at just over £ 1 billion, but made a charitable donation of £ 13 million. A Conservative donor and former Tory treasurer also made a £ 1.4 million political donation.

However, Spencer is believed to have seen a surge in the value of some major investments since then. This includes City Broker Numis, which advised numerous companies on emergency fundraiser, and trading platform AJ Bell.

A 65-year-old woman who has turned to angel investing since selling NEX to Chicago’s CME for £ 3.9b in 2018 has also integrated Singapore Life into Aviva’s Singapore business with the support of the integrated group. It is believed to have earned £ 50 million.

Spencer, whose son Thomas joined IPGL’s board last year, is also backing Clarna, a growing online shopping payments business. British sparkling wine maker, Chapel Down. LB, the inventor of the first silent wearable breast pump.

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Sir Spencer’s investment empire in City Grande revives

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