Woodford Investment Management has reportedly reaped $24.1m on its 20% stake in University of Bristol's Ultrahaptics.
Distressed fund manager Woodford Investment Management has offloaded its 20% stake in University of Bristol-founded mid-air haptics technology developer Ultrahaptics to Mayfair Equity Partners, the Telegraph reported yesterday.
Woodford was reportedly closing in on £20m ($24.1m) for the stake during negotiations, and while Ultrahaptics refused to confirm the final price, it did say the firm had managed to generate a profit.
Woodford’s fund management business has hit the rocks with the ongoing suspension of its flagship Equity Income…
