The previously-disclosed 13.67 per cent stake (as of December 10, 2015) had accreted to about 14.8 per cent of all Textura outstandings, by December 31, 2015 — according to an SEC filed Schedule 13G from the Brown Capital entities, at the SEC’s EDGAR window, as of late yesterday.
Of course we cannot yet know whether the firm sold some off, after year end — but it seems they are making a play that would bank on NorthWater Capital getting its own way — and getting some deal done.
That’s (but of course!) just my guess — do your own due diligence here. It sure seems the Brown entities would ahve done better to wait to buy in until the January 2016 swoon was completed. it is not like one couldn’t see that coming — in fact, we called it (and we are rank amatuers, here — new to following the name). So it goes.