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Investment funds buy €260m worth of Kingspan shares | Business Post

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Investment funds buy €260m worth of Kingspan shares, reports whytebarry.

Gene Murtagh, chief executive, Kingspan: Fidelity Investments and Capital Group now hold 13.04 per cent of the shares in the company, worth more than €2.1 billion at its current market cap of over €17 billion. Picture: Maura Hickey

Two of the world’s biggest investment funds spent more than €260 million combined to build their stakes in Kingspan, the Cavan insulation company. Fidelity Investments, which has more than $4 trillion in assets under management, bought €87 million worth of shares last week to push its stake to 4 per cent.

Capital Group, the Los Angeles-based fund with $2.6 trillion in assets under management, bought €175 million worth of shares to bring its stake to 9.04...

 

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