Fund manager Neil Woodford has sold his entire stake in Oxford Sciences Innovation, worth close to $70m, as his funds have come under increasing pressure.
UK-based investment firm Woodford Investment Management has sold its entire shareholding in Oxford Sciences Innovation (OSI), the university venture fund of University of Oxford, according to the Sunday Times.
The stake, worth £55m ($69.6m), has seemingly been sold to family offices and international investors. Woodford had hired stockbroker Numis to handle the transaction.
Woodford Investment Management, founded by fund manager Neil Woodford in 2014 after he left investment management company Invesco Perpetual, held shares in OSI through two vehicles – Patient Capital Trust and Equity Income.
The firm was one of the original backers of OSI when it was established four years ago with an initial target of $474m, though it has since grown to $800m.
Woodford has come under increasing pressure to manage liquidity due to significant outflows, struggling to keep the Equity Income fund’s unquoted exposure under the regulatory threshold of 10%.
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Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
