News

Q3 Trading Statement for the period to 31 December 2020

28 January 2021
Very positive momentum

Highlights

  • Strong fundraising momentum continues: €2.0bn of Third Party AUM raised during the quarter. Fundraising for the full financial year expected to exceed €6bn, significantly ahead of our initial expectations for an off-cycle year
  • Third Party AUM of €44.5bn: increase of 2% during the quarter and 12% since 31 December 2019
  • Significant deployment: €2.1bn invested in the quarter and €6.2bn since 31 December 2019
  • Portfolio performing well: benefitting from continued improvement in underlying performance, valuation environment, and underpinned by selective realisations
  • Well capitalised balance sheet: £898m of available liquidity at 31 December 2020
  • ESG-linked £550m RCF signed after the quarter end: refinancing existing facilities and further enhancing our long-standing focus on our broader positive impact on society 

Commenting, Benoît Durteste, CEO, said:

We maintained very positive momentum in our business through the third quarter, raising significant Third Party AUM and deploying a substantial amount of capital across all our strategic asset classes. 

Two of our flagship funds, Europe Fund VII and Strategic Equity III, were particularly active, and we were also pleased to see ongoing deployment in our more recently launched strategies such as Infrastructure Equity and Sale and Leaseback. 

Looking forward, we are well positioned to continue this trajectory. Our deployment rate and the performance of our funds through 2020 gives us confidence in our fundraising pipeline, and we are experiencing strong client demand for our strategies. Our global platform and our funds’ abilities to invest across the capital structure are strategic advantages to ICG, particularly at this point in the cycle, and we continue to invest in our capabilities to accelerate our future growth, most recently adding a Life Sciences team to enhance our capability in the Healthcare sector.  

While remaining alert to the current macro uncertainty, I am encouraged by the momentum I see across the business and I am looking forward to ICG continuing to deliver significant long-term growth and shareholder value.

q3-trading-statement-2020Download

Related content