15th Jul 2026 09:14
(Alliance News) - 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 USD126 billion on June 30, the end of its financial first quarter. Fee earnings assets under management rose 1.9% on-quarter to USD88.18 billion from USD86.52 billion.
Net additions to fee-earning assets amounted to USD2.4 billion. ICG made USD4.4 billion of gross additions, which analysts Jefferies said beat Visible Alpha consensus of USD3.0 billion, offset by realisations of USD2.0 billion.
ICG said it has "dry powder", funds ready to be deployed, of USD36 billion. Half of this is not yet earning fees.
ICG highlighted its Europe IX fund, which stood at EUR11 billion at the end of June and is on track to close at EUR12 billion in the second quarter of the financial year. This would be "significantly in excess" of a EUR10 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 EUR12 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.
By Eric Cunha, Alliance News news editor
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