Highlights
- Defining year in growing our client base and investment strategies, ICG is operating at an increasing scale across our platform and now manages Total AUM of $72bn
- Record fundraising: $22.5bn raised across a broad range of emerging and established strategies
- Third-party fee-earning AUM grew 30% on a constant currency basis to $58bn
- Third-party fee income: £449m during the period, an increase of 34% compared to FY21
- Fund Management Company: profit before tax of £286m, an increase of 41% compared to FY21
- Total dividends for FY22 of 76p per share, an increase of 36% compared to FY21 and the twelfth consecutive annual increase in ordinary dividend per share
- NAV per share of 696p (31 March 2021: 566p) and Group EPS of 187.6p (FY21: 162.3p)
- Net gearing of 0.45x; long-term objective of zero net gearing
- Accelerating fundraising guidance by a year due to confidence in outlook and execution: now at least $40bn fundraising in aggregate between 1 April 2021 and 31 March 2024 (a year earlier than previously guided)
Andrew Sykes, Interim Chairman:
“Our consistent strategic focus on growing and broadening our platform is increasingly demonstrating tangible value and reinforcing our attractive strategic positioning within our chosen markets.
We take a long-term view in managing the business. The record results we are announcing for FY22 build on the work we have done in prior years, and position us well for the years ahead. One of the many qualities of the ICG business model is its resilience during periods of macro-economic and geopolitical volatility. We have demonstrated this over many years, and I am confident that we can successfully navigate complex economic environments.”
Benoît Durteste, CEO and CIO:
This has been a defining year for ICG both in our market standing and in our growth trajectory. Our scale, diversification, brand and investment performance have combined to generate a record year on many levels. We more than doubled our previous fundraising record, grew our client base by 23%, and substantially increased our fee income and fund management profits.
We continue to scale ICG to meet increasing client demand across our waterfront of strategies, with growing AUM providing a diverse and locked-in stream of management fees. We have been able to scale up existing flagship strategies considerably and we have had outstanding success with two first time funds, cementing substantial organic growth for the coming years.
We have started FY23 in a strong position both strategically and financially, with substantial capital to deploy and a robust balance sheet. I am confident in our future prospects. Structural tailwinds remain supportive of the industry and ICG is well positioned to take advantage of the opportunities that invariably arise in more volatile market conditions. This confidence is reflected in the acceleration of our fundraising guidance as we look to continued growth and success in the coming years.
Overview
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Company presentation
A presentation for investors and analysts will be held at 09:00 BST today on our website via the link on Results Centre. A recording of the presentation will be available there later in the day.
Enquiries
Shareholder / analyst enquiries:
Vijay Bharadia, CFOO +44 (0)20 3545 2000
Chris Hunt, Head of Shareholder Relations +44 (0)20 3545 2020
Media enquiries
Fiona Laffan, Global Head of Corporate Affairs +44 (0)20 3545 1510
About ICG
ICG provides flexible capital solutions to help companies develop and grow. We are a global alternative asset manager with over 30 years’ history, managing $72bn of assets and investing across the capital structure. We operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.
We develop long-term relationships with our business partners to deliver value for shareholders, clients and employees, and use our position of influence to benefit the environment and society. We are committed to achieving net zero across our operations and relevant investments by 2040.
ICG is listed on the London Stock Exchange (ticker symbol: ICP). Further details are available at www.icgam.com. You can follow ICG on LinkedIn.
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