Pollen Road Group has stated that its personal credit score technique is performing nicely and it’s approaching a primary shut for its fourth personal credit score fund forward of plan.
The choice asset supervisor stated in a fourth-quarter replace that it just lately closed a £225m individually managed account beneath its credit score technique that can lay the trail for progress in belongings beneath administration all through 2024.
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Pollen Road manages belongings throughout each personal fairness and personal credit score methods, in addition to conducting its personal stability sheet investments right into a portfolio of senior asset-backed credit score belongings.
The agency stated that its asset administration enterprise is seeing robust deployment alternatives throughout each methods, bringing fee-paying belongings beneath administration to £3.4bn as of 31 December 2023, a 36 per cent enhance from £2.5bn on the finish of 2022.
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In the meantime, its funding arm reported “strong” returns within the fourth quarter, with “secure credit score efficiency and rising yields”.
This resulted in an 8.8 per cent return for 2023, pushed by greater yields that mirror the re-pricing of amenities into the upper rate of interest atmosphere.
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“Efficiency stays robust, benefitting from the senior secured technique, even amidst a altering macroeconomic atmosphere,” the agency stated. “The portfolio stays nicely positioned with a superb pipeline of alternatives.”
Pollen Road’s funding arm has dedicated over £120m into Pollen Road managed funds and will probably be investing into the primary shut of the fourth personal credit score fund.
