Intermediate Capital Group reports asset growth in quarter

(Alliance News) - Intermediate Capital Group PLC on Thursday reported a "resilient" quarterly business performance, as assets under management rose.

As at June 30, total assets under management stood at USD71.28 billion, up 9.3% from USD65.24 billion a year before. Third-party AuM totalled USD68.25 billion, and third-party fee-earning AuM totalled USD58.77 billion.

The London-based asset manager said it had USD18.5 billion third-party AuM available to deploy in new investments.

Chief Executive Officer Benoit Durteste said: "We remained active in the quarter. Fundraising was robust. Our pipeline remains constructive, particularly within direct lending where we are seeing a growing set of future deployment opportunities."

ICG fundraised USD4.5 billion in the quarter. The group said it has a total available liquidity of GBP1.4 billion as at June 30.

Shares down 1.7% at 1,447.50 pence each on Friday morning in London. The stock closed up 3.9% on Thursday.

By Xindi Wei; xindiwei@alliancenews.com

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