Annual Report and Accounts 2024


During the year, fee-earning AUM has grown by 11%. We have invested in our strategies, people and platform to ensure we are well positioned for the years ahead.

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Annual report

Our latest Annual Report and Accounts

Front cover of ICG Annual Report and Accounts 2024
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Chair's introduction
Effective governance to facilitate growth

Your Board will continue to ensure that ICG’s business is run to high standards of governance and growth.

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William Rucker
William Rucker, Chair

Chief Executive Officer’s review
30 years since listing, decades of opportunities

ICG is clearly a manager of choice for clients. Our broad waterfront of products, investment track record, and financial strength position us for many years of growth.

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Benoit Durteste
Benoît Durteste, CEO and CIO




During the year, the Group updated its AUM measurement policy, see page 16.
(2023: $80bn)


Number of clients

(2023: 647)


Growth in fee-earning AUM ($bn) Five-year Compound Annual Growth Rate (CAGR)


Balance sheet investment portfolio


Fee income

(2023: £501m)


Fee income (£m) Five-year CAGR


Fund Management Company Profit Before Tax (FMC PBT)

(2023: £311m)


FMC PBT (£m) Five-year CAGR


Net Asset Value (NAV) per share

(2023: 694p)


Number of employees

(2023: 582)


Employee engagement July 2023

Employee engagement driver includes questions on Loyalty, Recommendation and Satisfaction. July 2023 Pulse Survey participation: 74%.

What we do

We help grow our clients’ capital and provide flexible, sustainable financing solutions to companies.

  1. Grow fee-earning AUM
    We raise capital from clients across a range of investment strategies. By broadening our product offering, we grow our client base and our business with existing clients.
  2. Invest
    We use our investment platform and expertise to secure attractive opportunities on behalf of our clients.
  3. Manage and realise
    We work hard to help our portfolio companies develop and grow, and where appropriate we support them on sustainability matters such as decarbonisation and diversity, equity and inclusion
Explore our Business Model
ICG business model
ICG’s entrepreneurial culture, breadth of investment strategies and our well-capitalised platform enables us to sustain business activity throughout economic cycles

Previous years' reports

Get in touch

To find out more about our flexible and sustainable solutions for both providers and users of capital, please contact us.

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