Icg Enterprise Trust Plc Gbp · LSE:ICGT

Icg Enterprise Trust Plc Gbp — ICG Enterprise Trust — Q3 FY2021 Earnings Presentation

17 slides from Icg Enterprise Trust Plc Gbp's earnings presentation, December 2020

  1. Slide 1: Investor update

    Investor update For the nine months ended 31 October 2020 Note: All data as at 31 October 2020 unless specified

  2. Slide 2: Opening remarks

    2 Opening remarks Strong performance delivered during volatile economic environment Last nine months Last three months Momentum continued in Q4 (1 Feb – 31 Oct 2020) (1 Aug – 31 Oct 2020) (1 Nov – 31 Jan 2021)  Demonstrated quality of team and  Success across the business in  Growing investment p

  3. Slide 3: ICG Enterprise Trust

    3 ICG Enterprise Trust Investing in private companies to generate long-term returns Established, differentiated business Track record of long-term value creation  FTSE 250-listed company: daily liquidity Last nine Last 3 Last 5 months years1 years2  Focussed on delivering superior risk- adjusted r

  4. Slide 4: ESG

    4 ESG Integrated in all we do  Long-standing area of focus for ICG - ESG considerations embedded across business - Led by Eimear Palmer, Responsible Investing Officer  Integrated within ICG Enterprise Trust investment and monitoring process - Detailed and active diligence on all High Conviction In

  5. Slide 5: Our track record

    5 Our track record Strong performance investing and managing our portfolio Portfolio returns Realisations at attractive returns1 Historical deployment (£m) +28.9% 158 159 Last 9 142 2.7x months 128 2.4x 2.4x 2.4x 79 98 Last 9 82 months +15.3% +16.6% +14.6% 1.9x Last 9 months 80 82 +11.9% +21.8% 63 +

  6. Slide 6: Our track record

    6 Our track record Driving value for our shareholders Consistently outperforming the FTSE All-Share1 Dividend policy: disciplined capital allocation FTSE All-Share Dividends declared in last nine months: 15p per share ICG Enterprise Share price ICG Enterprise NAV growth 237% 202% 23.0 22.0 97% 21.0

  7. Slide 7: Q3 Highlights

    7 Q3 Highlights Strong performance through period of extreme uncertainty  Strong underlying investment gains in Q3; +12.5% sterling return Strong performance  NAV per share of 1,243.0p  Total proceeds over the last nine months of £166m Significant uplifts on  Portfolio continues to demonstrate u

  8. Slide 8: Portfolio during the quarter

    8 Portfolio during the quarter Valuation uplifts and new investments drive growth Portfolio value (£m) 92 818 765 (72) 378 340 425 440 31 July 2020 Investment Realisations Valuation uplifts FX 31 October 2020 High Conviction Investments Third Party Funds

  9. Slide 9: Our portfolio today

    9 Our portfolio today Strategically positioned for defensive growth Balance of investment types Increasing N. America exposure Resilient sector exposure 46% 39% 3% 4% 6% 26% 16% 11% THIRD PARTY DIRECT C0-INVESTMENT 30% 5% THIRD PARTY 26% SECONDARY INVESTMENT 21% 22% 13% 20% 54% 17% Healthcare and ed

  10. Slide 10: Focus on our Top 10 investments

    10 Focus on our Top 10 investments Managing diversification and exposure  Top 10 investments represent 29% of portfolio value and Top 30 investments represent 48%  Broad diversification across sector, vintage and geography  8 out of the top 10 investments are High Conviction Investments  With th

  11. Slide 11: Realisations

    11 Realisations Exit activity generating 2.4x return on cost Realisation cost multiples  £166m1 of proceeds over last nine months Last 9 - £72m of secondary sales, released £42m of months undrawn commitments 2.7x - Cash proceeds 12%2 of opening portfolio value 2.4x 2.4x 2.4x 1.9x  22 full realisat

  12. Slide 12: Investments

    12 Investments Maintained deployment into attractive investment opportunities  Deployment of £82m in last nine months, £30m in the New investment (£m) quarter  42% of capital invested in Q3 was into High Conviction 32 Investments 30 - $5m (£4m): Visma (world’s largest ever software buyout)  Commi

  13. Slide 13: Robust balance sheet

    13 Robust balance sheet Well positioned to take advantage of upcoming opportunities £431m £231m Uncalled commitments1 (£74m of which are to funds Liquidity available outside of their investment period) £73m £158m Cash Undrawn bank facility 1 Uncalled commitments usually drawn over 4-6 year period

  14. Slide 14: Activity since period end

    14 Activity since period end Continued momentum across the business Third Party Fund High Conviction Investments Realisations commitments £27m invested £35m committed £38m proceeds 1 2 1 Curium investment committed to within period, subsequently closed since period end 2 System One realisation agree

  15. Slide 15: Outlook

    15 Outlook Differentiated approach to deliver significant value over long term  Combination of High Conviction Investments and Third Party Funds Differentiated provides a differentiated exposure to private companies approach  Focussed and stringent investment selection criteria to invest in defens

  16. Slide 16: Global disclaimer

    16 Global disclaimer This document is being provided to you by the subsidiaries or affiliates of Intermediate Capital Group plc (“ICG”, and together with their respective directors, officers, employees, partners, members, shareholders, advisers and agents, as the context requires, “the ICG Parties”)

  17. Slide 17: Legal notice

    17 Legal notice What this document is for This document has been prepared by ICG Alternative Investment Limited (“ICG AIL”) as manager of ICG Enterprise Trust plc (“ICG Enterprise”). The information and any views contained in this document are provided for general information only. It is not intende

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