Pollen Road Group noticed its property below 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 12 months and 2025 to spice up its fund administration earnings.
The agency generated £15.8m in earnings from funding property 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 development of our asset administration enterprise and good efficiency from the funding firm,” stated chief govt Lindsey McMurray.
“Throughout each our non-public fairness and personal credit score methods, we now have made robust progress with fundraising and deployment, positioning us nicely for market alternatives. As we enter the second half of 2024, we stay assured in our strategic course and our potential to ship engaging shareholder worth. Our robust monetary efficiency, profitable fundraising, and deployment place us for continued development.”
Earlier this 12 months, Pollen Road Group upgraded its steerage for development of its AUM, after reporting robust progress towards fundraising targets and elevated income in its annual outcomes.
Learn extra: Pollen Road reviews robust efficiency in non-public credit score technique
