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LetterOne host roundtable at Bloomberg Invest Global

  Long term investing is fundamental to building back better post-pandemic, yet short termism is too often still holding back growth. Lord Davies of Abersoch CBE, Non-Executive Chairman, LetterOne and Stephanie Flanders at Bloomberg Invest Global host a roundtable on the benefits and challenges of long term investing. Participants include Dr. Matthew Agarwala, Economist, Bennett […]

How much has the shutdown shifted global economics?

  Full monetisation is now the rule rather than the exception Stefano Quadrio Curzio In last year’s review, I observed that even before the COVID-19 outbreak hit western economies, central banks had embarked on a course of full debt monetisation, by buying bonds issued by their respective governments. The level of debts and deficits was […]

2020 Year in review – L1 Health

  Patient capital With operator mindset With over $3bn in evergreen capital at its disposal, L1 Health has the ability to underwrite hold periods longer than a typical private equity fund. This allows it to focus on platforms that take time to build and to invest throughout economic cycles. In October 2019, L1 Health acquired […]

2020 Year in review – L1 Treasury

  Market backdrop 2020 will be a year few people will easily forget. COVID-19 is leaving a lasting impact on all aspects of society: physical, psychological, social, and economic. In addition, it has had a significant impact on financial markets, which is worth reflecting on. Financial markets are usually a step ahead of the real […]

Why has lower-carbon energy become an even higher priority?

  The dramatic global events of the past year have further accelerated the drive in the ongoing move to a lower-carbon energy mix across the world’s economies. The market penetration of renewable energy continues to increase, and customers demand cleaner, less impactful, and often more local energy sources with larger recycled content wherever possible. However, […]

2020 Year in review – L1 Energy

  L1 Energy’s ambition is to build a safe, sustainably growing energy group which is recognised as a partner of choice in its industry, and helps enable the energy transition to a lower-carbon economy. The demand for energy is rising and will continue to do so as populations and economies grow, but the proportion that […]

2020 Year in review – L1 Technology

  L1 Technology owns a 47.85% voting stake in VEON, the global telecoms company headquartered in Amsterdam, and a 19.8% stake in Turkcell, Turkey’s leading telecoms operator. L1 already has a strategic stake in Qvantel, a provider of Business Support System (BSS) solutions for telecoms that continues to be focused on developing its next-generation BSS […]

2020 Year in review – L1 Retail

Retail 2020 was a year of significant disruption and change resulting from COVID-19. The pandemic accelerated many structural changes already underway, stimulated and challenged by consumer trends, technological disruption, and the increased relevance of sustainability to retail strategies. L1 Retail is a differentiated investor with a longer-term investment horizon than many other financial investors. It […]

Is being a longterm investor an advantage in this investment climate?

Q: How did the L1 portfolio perform during the pandemic? A: The L1 portfolio proved its exceptional resilience in 2020 and performed exactly as hoped. As the portfolio comprises of companies supplying largely essential services and products, demand remained robust throughout the crisis. None of the companies experienced financial difficulties, and L1’s cautious management of […]

Chief Executive’s review with Jonathan Muir

Our overall resilience and success are underpinned by our belief that a combination of long-term investment horizons, entrepreneurship, and innovation will serve us well as the world changes. Jonathan Muir, Chief Executive Officer Performance highlights It is an understatement to say that 2020 was a challenging year but we came through not only intact, but […]