Trian Investors 1 Limited
TI1.L
London Stock Exchange185.50
GBp
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Trian Investors 1 Limited
TI1.L
(London Stock Exchange)
Recent
price
185.50
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yld
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ROIC.AI
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- Business
- Trian Investors 1 Limited is a Guernsey-domiciled closed-end investment company listed on the Specialist Fund Segment of the London Stock Exchange under ticker TI1.L; it seeks to generate significant capital appreciation through investments managed by Trian Investors Management LLC and its affiliate Trian Fund Management LP. The company, incorporated in 2018 and headquartered in Guernsey, invests through its subsidiary Trian Investors 1 Midco Limited, which holds a near-100% interest in Trian Investors 1 LP (the Investment Partnership); this structure enables substantial stakes in high-quality but undervalued or underperforming UK or US public or private companies, employing Trian's activist strategy of concentrated equity ownership paired with operational improvements. Core activities encompass acquiring minority, majority, or controlling interests in target companies across sectors like consumer, industrial, and financials; hedging transactions for investment or risk management; and selective borrowings to enhance returns, including a $100 million three-year revolving credit facility with Bank of America established in March 2022 secured by Ferguson plc shares. Operations target North American and UK markets, exemplified by its primary holding in Ferguson plc, a leading North American distributor of plumbing, heating, and related products where Trian holds an aggregate 5.17% stake as of late 2021 alongside other Trian-managed funds. Recent developments include amended investment policy in June 2021 permitting simultaneous multi-company investments and reinvestment of sale proceeds or dividends; a $50 million investment in an undisclosed publicly listed target in a Trian focus sector financed via the credit facility in April 2022; ongoing share repurchases totaling over £24 million since 2020 to address trading discounts; in-specie distribution of Ferguson shares alongside partial share redemption in early 2023; and Trian Subscriber increasing its stake to 28.7% by direct purchases, underscoring alignment while monitoring UK Takeover Code thresholds.