ICG Plc (LSE:ICG) reported strong growth in assets under management during the first quarter of its financial year, supported by continued fundraising success for its flagship European structured capital strategy.
Fee-earning assets continue to expand
Total assets under management reached 126 billion dollars at 30 June, while fee-earning assets under management increased 3 percent during the quarter and 10 percent over the past year to 88 billion dollars.
The company added 2.4 billion dollars of net new fee-earning assets, as gross inflows of 4.4 billion dollars more than offset 2.0 billion dollars of realisations. ICG also reported 36 billion dollars of available investment capital, including 18 billion dollars that has yet to begin generating management fees.
Europe IX fund drives fundraising
Total fundraising during the quarter reached 4.1 billion dollars.
The Structured Capital and Secondaries division attracted 2.2 billion dollars, with the majority coming from the Europe IX fund, which raised 2.1 billion dollars during the quarter. By 30 June, the fund had reached 11 billion euros in commitments.
ICG said the fund is expected to close well above its original 10 billion euro target and will be around 50 percent larger than its predecessor, making it the firm’s largest commingled fund to date.
The company said, “Europe IX is ICG’s largest-ever co-mingled fund and at €12bn will be the largest co-mingled structured capital fund ever raised globally. It is materially oversubscribed, reflecting the highly differentiated nature of the strategy and its strong track record.”
New fund launches support future growth
Within its Real Assets business, ICG launched the SRE III European real estate equity fund, with the first close expected before end of FY27.
The total fund size for SRE II was €0.7bn.
The company also launched SDP VI within its Debt division, with a first close expected before the end of the current financial year.
Across its investment strategies, ICG deployed 3 billion dollars during the quarter, bringing capital deployed over the previous 12 months to 14.3 billion dollars.
Dividend confirmed and credit rating maintained
ICG confirmed its final dividend for the 2026 financial year of 59.3 pence per share, which is scheduled to be paid on 31 July.
The company also noted that Fitch Ratings reaffirmed its BBB+ credit rating with a stable outlook on 10 July, reflecting continued confidence in its financial position.
Leave a Reply