Pollen Road Group noticed its belongings beneath administration (AUM) improve by a 3rd year-on-year to £4.5bn within the first half of 2024 and reported robust fundraising momentum throughout its non-public credit score and personal fairness methods.
The choice asset supervisor raised £600m for the primary shut of its Credit score Fund IV in March 2024 and stated it expects additional capital raises for the fund within the second half of the yr and 2025 to spice up its fund administration revenue.
The agency generated £15.8m in revenue from funding belongings within the first half, attaining a 9.7 per cent return.
Working revenue rose by 24 per cent to £24.1m.
Learn extra: Iwoca reaches profitability and expands Pollen Road funding line
“I’m very happy with our robust first-half efficiency, pushed by spectacular progress of our asset administration enterprise and good efficiency from the funding firm,” stated chief government Lindsey McMurray.
“Throughout each our non-public fairness and personal credit score methods, we’ve made robust progress with fundraising and deployment, positioning us effectively for market alternatives. As we enter the second half of 2024, we stay assured in our strategic course and our skill to ship engaging shareholder worth. Our robust monetary efficiency, profitable fundraising, and deployment place us for continued progress.”
Earlier this yr, Pollen Road Group upgraded its steering for progress of its AUM, after reporting robust progress in opposition to fundraising targets and elevated earnings in its annual outcomes.
Learn extra: Pollen Road studies robust efficiency in non-public credit score technique