ICG impresses with third-quarter AUM growth, fundraising

(Sharecast News) - Alternative asset manager Intermediate Capital Group impressed investors with a third-quarter update on Wednesday after reporting a 5.1% increase in assets under management and strong fundraising activity. AUM totalled $107bn in the three months to 31 December, representing 27.5% growth year-on-year.

Compared with the preceding quarter, double-digit growth in the larger structured and private equity division (which accounts for nearly half of total AUM) offset declines in private debt markets and seed investments, while real assets and credit edged higher.

Fee-earning AUM for ICG for the third quarter rose 2.8% compared with the second quarter and 8.1% year-on-year to $71bn.

Total fundraising across the business was $7.2bn, meaning that $22bn was raised over the 2024 calendar year, more than twice the amount raised in 2023, "supporting long-term growth in client capital and management fees", ICG said.

The stock was up nearly 5% at 2,220p by 0855 GMT, having risen more than 10% over the past week alone.