Hg’s Steven Batchelor: You can be IRR and MOIC driven. DPI targets, mathematics and intellectual honesty are at the core of Hg’s exit approach, according to Batchelor.

The Series E preferred stock offers a potential ~37% IRR and ~1.23x MOIC if redeemed in October and is well covered, detaching through ~12% cap rate / ~9x adj. FFO. sykono.

This transaction generates a MOIC of 2.4x and a gross IRR of 30.4 percent. Tikehau invested in Preligens in November 2020.