(Alliance News) - Pollen Street Group Ltd on Wednesday said that it continues to perform well, after strategy helped to drive growth in the final quarter of last year.
For the quarter ended December 31, the London-based wealth and investment management company said that fundraising had progressed well across its Private Equity and Private Credit segments.
In particular, Pollen Street noted that Private Equity fundraising has secured commitments in excess of GBP1.3 billion since June 30, while it's currently approaching a first close for Private Credit Fund IV ahead of plan.
As at December 31, fee-paying assets under management came to GBP3.4 billion, up 36% from GBP2.5 billion a year prior. The return on net investment assets was "consistent" for the fourth quarter, Pollen Street added, resulting in an 8.8% return for the year.
Looking ahead, Pollen Street said that performance remains "strong", benefitting from the firm's senior secured strategy, "even amidst a changing macroeconomic environment". It added that the portfolio remains "well positioned with a good pipeline of opportunities".
Pollen Street shares were trading 2.0% higher at 555.00 pence each in London on Wednesday morning.
By Holly Beveridge, Alliance News reporter
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Pollen Street (POLN)