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ICG PLC on Wednesday said it has seen growth in fee earning assets under management, and it reported one key fund sits ‘materially oversubscribed’. The London-based private equity asset manager said assets under management were steady on quarter at $126 billion on June 30, the end of its financial first quarter. Fee earnings assets under management rose 1.9% on-quarter to $88.18 billion from $86.52 billion. Net additions to fee-earning assets amounted to $2.4 billion. ICG made $4.4 billion of gross additions, which analysts Jefferies said beat Visible Alpha consensus of $3.0 billion, offset by realisations of $2.0 billion. ICG said it has ‘dry powder’, funds ready to be deployed, of $36 billion. Half of this is not yet earning fees. ICG highlighted its Europe IX fund, which stood at €11 billion at the end of June and is on track to close at €12 billion in the second quarter of the financial year. This would be ‘significantly in excess’ of a €10 billion target. ‘It is materially oversubscribed, reflecting the highly differentiated nature of the strategy and its strong track record,’ ICG added. ‘Europe IX is ICG’s largest-ever co-mingled fund and at €12 billion will be the largest co-mingled structured capital fund ever raised globally.’ ICG shares were up 2.4% at 1,833.00 pence each in London on Wednesday morning. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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