Intermediate Capital hails 'milestone' year as AUM jump 14%

(Sharecast News) - Intermediate Capital Group shares rallied on Wednesday as it reported a "milestone" financial year, with assets under management up 14%. In the year ended 31 March, AUM rose to $112.4bn from $98.4bn the year before, with fee-earning AUM up 8% at $75.1bn.

Fund management company pre-tax profit increased 23% to $461.4m, but group pre-tax profit was down 11% to £532.2m.

Chief executive Benoit Durteste said: "FY25 was a milestone year for ICG during which we made significant progress in delivering on our ambition to offer our clients and shareholders breadth at scale.

"We raised $24bn from our global client base. Fundraising highlights for the year include closing the world's largest fund dedicated to GP-led secondaries (Strategic Equity V) and Europe's largest direct lending fundraising (SDP V), as well as having our largest ever vintage-to-vintage upsize (Europe Mid-Market II, 3x larger than the prior vintage).

"We have therefore secured this fundraising cycle and have anchored management fees and dry powder, materially underpinning our near-term financial performance. Today we have leading positions in structured capital, secondaries and debt, and have a real assets platform that is positioned for growth. Longer-term, ICG has clearly emerged as one of the few global alternative asset managers who are seeing their competitive position strengthened by today's challenging market conditions."

At 1115 BST, the shares were up 3% at 2,115.20p.