- Intermediate Capital Group
- 16 July 2024 12:44:46
Source: Sharecast
During the quarter ending in June, assets under management at the alternative asset manager rose by 23.7% year-on-year to reach $101bn (consensus: $97.82bn).
But of that amount only $70bn were fee-earning (consensus: $71.69bn) following 10% growth in annual terms.
The firm raised $4.7bn of new funds during the quarter (consensus: $3.44bn), including $2.1bn for its Senior Debt fund and another $1.4bn for the Strategic Equity V fund.
Analysts at UBS had anticipated $0.5bn in monies raised for each of those funds.
Intermediate Capital deployed $3.9bn of funds during the period and achieved realisations of $2.5bn, against $1.0bn and $0.6bn one year before, respectively.
The firm's expectations were unchanged from at the time of its full-year results presentation.
As of 1242 BST, shares in Intermediate Capital were slipping by 1.34% to 2,208.0p.