Q3 Trading statement for the nine months ended 31 December 2023

Fee-earning AUM up 6.5% in the quarter

Highlights

Total AUM of $86.3bn; fee-earning AUM of $68.4bn; AUM not yet earning fees of $15.2bn
Fee-earning AUM +6.5% in the quarter on a reported basis, +3.4% on a constant currency basis; 20.6%¹ annualised growth over the last five years
Fundraising of $3.6bn² during the quarter, driven by two flagship strategies: Senior Debt Partners ($1.8bn) and Strategic Equity ($0.8bn). Scaling strategies raised a total of $0.9bn. Momentum continuing into final quarter of financial year
Achieved fundraising ambition ahead of target; $41bn raised since 1 April 2021
Deployment of $2.9bn during the quarter, particularly strong activity within Senior Debt Partners ($1.9bn). Actionability of pipeline is increasing across a number of strategies
Well capitalised and valuable balance sheet: investment portfolio of £3.1bn; total available liquidity of £1.1bn; net financial debt of £954m. ICG’s credit rating upgraded to positive outlook by S&P during the period
ICG joined the FTSE 100 index effective 18^th December 2023
Shareholder seminar on 21 February at 2pm GMT: “Deep dive on scaling-out”. Register here

Unless otherwise stated the financial results discussed herein are on the basis of alternative performance measures (APM); see full year results.

Constant currency basis
Includes $0.2bn of leverage attributable to equity that was raised in previous periods