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Intermediate Capital Group PLC on Thursday said total assets under management rose across the first quarter of its financial year, while it pointed to ‘many’ further growth opportunities ahead. The FTSE 100-listed, London-based asset manager said total assets under management on June 30 was $82.1 billion, rising 2.4% from $80.2 billion on March 31. Third party assets under management was up 2.5% to $78.9 billion from $77.0 billion, while fee-earning assets under management rose 2.1% to $64.1 billion from $62.8 billion. It noted its flagship direct lending strategy Senior Partners V as performing particularly strongly, with around €2 billion in transactions signed since last December. The Real Assets franchise also built momentum across its first quarter, ICG said. Looking ahead, ICG said ‘many opportunities for further growth lie ahead’. ‘Our continued performance and long-term track record reinforce confidence in our ability to successfully execute on them,’ the company said. Shares in ICG were down 0.4% to 1,471.00 pence each in London on Thursday afternoon. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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