Pollen Street Group Limited Q3 2024 Trading Update
Total AUM reached £5.0 billion as of 30 September 2024, up from £4.2 billion year-on-year.
- Total AUM £5.0 billion (prior £4.2 billion)
- Fee-paying AUM £3.5 billion
- Investment Company net investment return (year-to-date) 8.3%
- Investment Company Net Investment Assets £464 million
- Private Equity V fundraise target €1 billion
- Credit IV fundraise target £1 billion
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Pollen Street Group Limited ("Pollen Street", together with its subsidiaries, the "Group") today issues its trading update for the period ended 30 September 2024. Pollen Street continues its strong H1 2024 performance, with ongoing fundraising and capital deployment driving AuM growth.
Asset Manager
- Total AUM reached £5.0 billion as of 30 September 2024, up from £4.2 billion in Q3 2023 and fee-paying AUM stands at £3.5 billion as of 30 September 2024 as fundraising continued steadily across the platform but with most capital being raised in Q4.
- In credit, a number of deals closed in the year and together with a strong pipeline AUM is building well towards the end of the year.
- Private Equity V fundraise is progressing well, with advanced investor discussions and expectations to meet its €1 billion target by 2024 year-end. Credit IV fundraising is on track to achieve the £1 billion target in 2025.
- The Asset Manager continues to thrive, with both Private Equity and Private Credit strategies in active fundraising, capitalising on robust performance and positioning us for further success.
Investment Company
- The investment company has generated a risk adjusted net investment return of 8.3% year-to-date. As of 30 September 2024, Net Investment Assets stood at £464 million.
- Pollen Street continues to maintain a strong balance sheet, underpinned by the performance of its high-quality portfolio. The company continues to generate strong levels of risk-adjusted income as it transitions from direct investments to investments via Pollen Street funds, while broadly maintaining its credit focus.
- The Investment Company has committed c.£185 million to Pollen Street funds, with 47% drawn as of 30 September 2024. This allocation leverages attractive returns from Private Equity and Private Credit strategies, aligning with investor interests and accelerating AuM growth. The remaining commitment will be drawn as funds deploy, ensuring continued investment momentum.
The medium-term growth prospects for private markets are promising, and Pollen Street is confident in its long-term strategic opportunities, leveraging its expertise in financial services and delivering sustained value to clients and shareholders.
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