Q1 Trading Statement for the three months ended 30 June 2025

 

 

 

 

 

 

 

Intermediate Capital Group plc16 July 2025Q1 Trading Statement for the three months ended 30 June 2025Highlights

AUM of $123bn; fee-earning AUM of $82bn; AUM not yet earning fees of $19bn

Fee-earning AUM up 4%1 in the quarter, up 11%1 year-on-year

Fundraising in the quarter of $3.4bn, driven by Europe IX ($1.5bn / €1.3bn) and Infrastructure Europe II ($1.2bn / €1.0bn). Focus from LPs on liquidity and investment performance is continuing to drive manager selection

Infrastructure Europe has shown strong momentum into its final close, with Fund II receiving substantially more client capital than the prior vintage: at 30 June 2025 Infrastructure Europe II had a Total Fund Size of €2.5bn (Fund I: €1.5bn), and we expect to close a further €0.6bn before the end of the current quarter, reaching the hard cap for the strategy

Europe IX has had an impressive start to the fundraise, with global demand from current and new clients attracted by the strategy's track record of private equity-like returns with downside protection and high DPI. At 30 June 2025 the Total Fund Size was €5.8bn (Europe VIII: €8.1bn)

Investment landscape remains very attractive for a number of strategies, including structured capital, secondaries and real assets equity

FY25 Sustainability and People Report published in June 2025, available here

Unless otherwise stated the financial results discussed herein are on the basis of alternative performance measures (APM) basis; see full year results1 On a constant currency basis

 

PERFORMANCE REVIEW

 

AUM

 

 

 

 

 

 

 

Growth1

 

 

30 June 2025

Last three months

Year-on-year

Last five years (CAGR)

 

AUM

$123bn

        3%        

        15%        

        18%        

 

Fee-earning AUM

$82bn

        4%        

        11%        

        14%        

 

 

 

 

 

 

 

1 On a constant currency basis

 

Business activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$bn

Fundraising

 

Deployment1

 

Realisations1,2

 

Q1 FY26

LTM

 

Q1 FY26

LTM

 

Q1 FY26

LTM

 

Structured Capital and Secondaries

1.9

13.3

 

1.0

9.8

 

0.4

2.0

 

Real Assets

1.3

3.2

 

0.5

2.7

 

0.3

1.6

 

Debt3

0.2

5.8

 

1.3

3.8

 

0.4

3.9

 

Total

3.4

22.3

 

2.8