26th Jul 2018 12:43
LONDON (Alliance News) - Specialist asset manager Intermediate Capital Group PLC said Thursday that its asset under management for the first quarter of the year increased 15%.
For the three months to June 30, the company had EUR32.9 billion in asset under management including EUR2.3 billion of the company's balance sheet investment portfolio. At March 31, total AUM were EUR26.53 billion.
Inflows for the period amounted to EUR4.83 billion, while realisations were EUR1.03 billion.
Third party fee earning AUM increased 20% at EUR25.19 billion.
"As anticipated, the new financial year has started strongly with AUM breaking EUR30 billion driven by fundraising for Europe Fund VII which is currently 48% larger than its predecessor fund," Chief Executive Officer Benoit Durteste said. "The size of the fund demonstrates our ability to scale our proven strategies."
"Our increasing size and market presence is allowing us to source attractive investment opportunities for our funds, without compromising on our investment discipline," Durteste added. "Our focus remains on deploying capital and raising new funds, while selectively using our balance sheet to add to our range of scalable strategies."
Intermediate Capital shares were trading up 1.3% at 1,094.00 pence each.
Related Shares:
ICP.L