It’s good to see shareholder activism paying off — even if you sometimes need the patience of a saint to coax the correct strategy.

It seems Value Capital Partners (VCP), started in late 2016 by a couple of former Brait heavyweights, is seeing a discernible swing in its portfolio of listed company interventions. Technology group Altron and services group Adcorp — where VCP clambered aboard in 2016 and 2017 respectively — delivered encouraging financial updates last week. Other VCP positions are also looking strong. Gaming group Sun International has rebounded strongly from its dangerous Covid lull, private education business AdvTech is up more than 100% over three years and even fintech hub Lesaka Technologies (see separate story in this week’s Money section) has registered a sprightly gain this year...

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