Q1 Trading Statement for the period to 30 June 2021

“We have started the year with positive momentum", says ICG's CEO & CIO
  • Third-party AUM: $61.5bn at 30 June 2021, an increase of 10% ($5.4bn) during the period and 27% ($13.1bn) in the twelve months from 30 June 2020
  • Fundraising: raised $8.2bn during the period, in line with our expectations that FY22 will be a peak year in our four-year fundraising cycle
  • Europe VIII: latest vintage of this flagship strategy held a first close on 29 April 2021 and raised $3.1bn during the period; the fund has a ten-year contractual life and charges fees on committed capital
  • Deployment: activity continues to be high, with $4.5bn deployed on behalf of our direct investment funds
  • New strategies: seeded investments for our North America Private Equity, Life Sciences and LP Secondaries strategies, and acquired Australian real estate debt manager
  • Sustainability and people: continued progress against our priorities, including launching an ESG-linked fund-level facility for Real Estate Partnership Capital VI and joining The Diversity Project
  • Balance sheet: liquidity of £652.2m at 30 June 2021

Benoît Durteste, CEO, said:

We have started the year with positive momentum. As previously announced, we expect FY22 to be a peak year in our four-year fundraising cycle and are pleased with how strongly the year has begun, benefitting from fundraising being front-loaded as expected. In line with our long-term focus, we also continue to invest in the future sustainable growth of ICG.

The level of investment activity across our business remains elevated and our local teams are sourcing attractive opportunities to invest and realise Our ability to invest globally across the capital structure allows us to thrive in these dynamic market conditions. The performance of our funds continues to be strong, reinforcing our track record and investment-led approach.

With responsible investing being an integral part of our investment process, we have put in place an ESG-linked fund-level financing facility for Real Estate Partnership Capital VI and have adopted an enhanced, thematic approach to our ESG engagement strategy within Europe VIII. These are important milestones in our ambitions around sustainability and people.

Looking ahead, we are fully focused on delivering our ambitious growth strategy and developing further as a leading global alternative asset manager.