Business
ICG: Interim Results Statement for the six mont...
ICG: Interim Results Statement for the six mont....
About this update from Icg Plc
[{"type":"text","content":"\n \n \n ICG: Interim Results Statement for the six months ended 30 September 2021\n \n \n \n \n \n \n \n 16 November 2021\n Interim Results Statement for the six months ended 30 September 2021\n \n \n \n \n \n \n \n \n Record fundraising and multiple drivers of future compounding growth\n \n \n \n \n \n \n Highlights\n \n Strong momentum continuing across our three strategic objectives encompassing fundraising, deployment and realisations\n Record fundraising: $13.8bn raised, Europe VIII already 42% larger than Europe VII and continuing to fundraise\n Third-party AUM: $65.3bn, an increase of 28% compared to H1 FY21\n Continued growth in third-party fee income: £199.0m during the period, an increase of 29% compared to H1 FY21\n Fund Management Company: profit before tax of £120.9m, an increase of 35% compared to H1 FY21\n Investment Company: NIR of 18% driven by strong fund performance, profit before tax of £143.8m\n Balance sheet supporting growth: seed investments made on behalf of new strategies totalling £115.7m\n Dividend policy maintained: interim dividend of 18.7p, in line with policy of paying a third of prior full year dividend\n Sustainability and people: post period-end, committed to reach net zero by 2040; 2030 emissions reduction targets covering 100% of relevant investments approved and validated by the Science Based Targets initiative\n Note: unless otherwise stated the financial results discussed herein are on the basis of Alternative Performance Measures - see page 2\n \n \n \n \n \n \n \n \n Benoît Durteste\n \n \n \n \n \n \n \n CEO and CIO\n \n \n \n \n \n \n This has been a record period for ICG on a number of levels, continuing the strong momentum of H2 FY21 and delivering progress against all three of our strategic priorities encompassing fundraising, deployment and realisations. We anticipated the first half would be strong, and it has exceeded our expectations. Fundraising has been remarkable: we have raised more in six months than in any full year in the history of ICG. Notably it has been across both established and emerging strategies, evidencing the breadth of our embedded growth opportunities. We have also attracted a substantial number of new clients during the period across a range of established and emerging strat...