Business
January Trading Statement - for the period to 3...
January Trading Statement - for the period to 3....
About this update from Icg Plc
[{"type":"text","content":"\n January Trading Statement - for the period to 31 December 2016HighlightsTotal AUM up 3% to €22.6bn in the quarter, with €0.6bn of new third party money raised in the three months to 31 December 2016; third party fee earning AUM up 5% to €17.3bn Fundraising performance in line with expectations, driven by a final close on our Asia Pacific Fund III and a further close on our Strategic Secondaries Fund Investment portfolio reduced 4% in the quarter as the pace of realisations outstripped new investments made Investment portfolio performance remains robust and funds performing in line with expectationsCommenting, Christophe Evain, CEO, said:\"I am pleased to report ICG's third quarter trading is in line with expectations. Third party assets under management grew further in the third quarter, with €0.6bn raised, resulting in total AUM increasing to €22.6bn. Both fundraising and capital deployment remain on track and we have visibility of good fundraising momentum through the next 12 months. Current market conditions are sustaining a positive trend favouring alternative asset classes which we are well positioned to capitalise on.\"Grow assets under managementTotal assets under management have increased 3% over the three months to 31 December 2016 to €22.6bn with the level of fundraising consistent with that of the first half of the financial year but with a higher pace of realisations. The third party AUM by strategic asset class is as follows: Corporate Investments€m Capital Markets€m Real Assets€m Secondaries€m TotalThird Party AUM€m At 30 September 2016 10,113 5,317 3,340 1,078 19,848 Additions 403 50 - 147 600 Realisations (316) (36) (109) - (461) FX and other 263 157 70 43 533 At 31 December 2016 10,463 5,488 3,301 1,268 20,520 Fee earning AUM - at 31 December 2016 8,079 5,488 2,648 1,123 17,338 During the quarter we closed our third Asia Pacific fund at €615m ($691m), including a $200m commitment from the balance sheet, with €177m ($194m) of third party money raised during the quarter. We continue to make good progress in fundraising for our Strategic Secondaries strategy with a further €147m ($155m) raised since September, taking the total raised to €666m ($702m), including a $200m commitment from the balance sheet. Elsewhere, we raised €226m from segregated mandates into our Senior Debt Partners strat...