Business
Trading Statement for the period to 25 January ...
Trading Statement for the period to 25 January ....
About this update from Icg Plc
[{"type":"text","content":"\n Trading Statement for the period to 25 January 2016HighlightsStrong fundraising inflows with €4.7bn of new third party money raised in the nine months to 31 December 2015, although the pace of fundraising is likely to slow as we focus on our new strategies New third party money raised in the quarter to 31 December 2015 totalled €1.4bn, resulting in AUM increasing by 5% to €21.2bn in the quarter to 31 December 2015; third party fee earning AUM increased 6% to €15.4bn ICG North America Private Debt Fund and Senior Debt Partners II strategy closed above target. Our domestic Japanese Mezzanine Fund had a final close in line with expectations Resilient investment portfolio and a stable loan book, in line with expectationsCommenting, Christophe Evain, CEO, said:\"ICG's strong momentum has continued. Third party assets under management grew further in the third quarter, with €1.4bn raised. We had final closes on our North America Private Debt Fund and our Senior Debt Partners II strategy, both above their target sizes, and our domestic Japanese Mezzanine Fund, demonstrating the success of our organic product expansion. This has been supplemented further by the recent acquisition of the Graphite Enterprise Trust* management contract, adding a private equity funds investment business to our portfolio. \"Despite the prevailing heightened market volatility, the long term market conditions remain favourable for alternative investments and we remain well positioned to deliver our strategic objectives and generate improving returns for our shareholders.\"*Subject to completionGrow assets under managementOur fundraising momentum has continued in the quarter to 31 December 2015, and with the pace of realisations remaining broadly in line with the first half of the financial year, total assets under management have increased 5% over the three months to 31 December 2015 to €21.2bn. The third party AUM bridge is as follows: Mezzanine and equity Funds€m Real estateFunds€m Credit Funds€m TotalThird Party AUM€m At 30 September 2015 6,338 2,825 8,659 17,822 Additions 147 371 919 1,437 Realisations (126) (1) (254) (381) FX and other 57 10 (4) 63 At 31 December 2015 6,416 3,205 9,320 18,941 Fee earning AUM - at 31 December 2015 5,957 2,521 6,882 15,360 During the quarter we completed the fundraising for our Senior Debt Partners ...