Woodford takes 46% stake in Imperial Innovations

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Invesco Perpetual star manager Neil Woodford has taken a large stake in Imperial Innovations after backing yesterday's £140m rights issue.

Imperial Innovations, which started group supporting inventions and discoveries made at London's Imperial College five years ago, is using the cash call to build expand its interests in other British universities. The Evening Standard reports Woodford will end up with a 46% stake, with hedge fund Lansdowne Partners at 14% and the Duke of Westminster at 1%. Imperial College has seen its stake diluted from 50% to 30%. "This fundraising will make us the largest single investor in UK universities' research output," Imperial Innovations chief executive Susan Searle told the Standard.  

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