Business
Pollen Street plc Annual Report and Accounts
Pollen Street plc Annual Report and Accounts.
About this update from Pollen Street Group Limited
[{"type":"text","content":"\n \n \n \n For immediate release\n \n \n \n 23 March 2023\n \n \n \n \n \n \n \n \n Pollen Street plc Annual Report and Accounts\n \n \n \n \n \n \n \n \n Pollen Street plc (\"Pollen Steet\" or, together with its subsidiaries, the \"Group\") today issues its Annual Report and Accounts for the year ended 31 December 2022.\n \n \n It has been a transformative year for the Group, with Pollen Street Capital Holdings Limited and Honeycomb Investment Trust plc combining to form Pollen Street (the \"Combination\"). The Group benefits from a complementary set of asset management activities focused on managing third-party AuM (the \"Asset Manager\") together with on-balance sheet investments (the \"Investment Company\"). The two complementary business models accelerate growth and unlock value for shareholders by bringing together the combined business models of income resilience and growth to provide a highly attractive proposition to investors.\n \n \n \n Highlights for 2022: delivering in line with targets and well-positioned for growth\n \n \n \n ·\n AUM has grown to £3.4 billion supported by an impressive 36 per cent year on year growth in the Credit AUM\n \n \n ·\n Financial performance of the Asset Manager is in line with consensus with Fund Management EBTIDA for 2022 closing at £8.5 million, equivalent to a 21 per cent year-on-year growth\n \n \n ·\n The Investment Company delivered performance in line with expectations, with Net Investment Assets Return of 8.0 per cent per annum and net income for 2022 of £28.3 million. Against the current macro-economic backdrop, this performance demonstrates the resilience of the strategy\n \n \n ·\n The Group has maintained its track record of delivery across both Private Equity and Credit strategies with an early realisation in Private Equity IV and strong consistent performance in credit\n \n \n ·\n Sustainability remains a core part of Pollen Streets investment strategy and the Group has been recognised by CFI as Best Responsible Investment Team UK in 2023 for the third year running and also recognised by FT Adviser for its work in DE&I\n \n \n ·\n The Group is well-positioned to drive organic long-term growth and is well on track to deliver its objective of £4-5bn AUM in the medium term with good near term visibility on making steps towards that\n \n \n \n Comm...