Q3 Trading Statement for the nine months ended 31 December 2024

3D illustration of ICG momentum
$22bn raised in the last twelve months

Highlights

  • Strong fundraising of $7.2bn in the quarter resulting in $22bn raised in the last twelve months, more than twice as much as raised in calendar 2023 and supporting long-term growth in client capital and management fees
  • Client commitments included $1.8bn to Strategic Equity and $1.8bn to Europe IX. Europe IX expected to be activated and fee-earning by March 2025
  • AUM of $107bn (+5.1% q-o-q[1]); fee-earning AUM of $71bn (+2.8% q-o-q[1]); AUM not yet earning fees of $20bn
  • Investment environment remains in line with recent quarters
  • Balance sheet investment portfolio during the quarter generated positive NIR in all asset classes and net cash realisations
  • AAA ESG rating awarded by MSCI for the fourth consecutive year, membership of the Dow Jones Sustainability Index (Europe) for the second consecutive year
  • Shareholder seminar on ICG Strategic Equity to be held online on 5 March 2025 at 5pm GMT. Register here
  • Sonia Baxendale joined the Board as a Non-Executive Director in January 2025[2]

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

  1. On a constant currency basis
  2. As previously announced

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