Assets under management at FTSE-250 listed Intermediate Capital rose by seven per cent to 12.9bn euros at the end of September, according to the group's interim management statement for the period to January 14th.
This was driven by good progress in fundraising for the group's mezzanine funds, the group reported.
Mezzanine FundsThe group saw a final close on its ICG Europe Fund V at its maximum permitted size of Euros 2.5bn and a first close of £212m on ICG-Longbow Fund III. The numbers include Euro 500m and £50m respectively committed by ICG.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Credit FundsThe group's credit funds were described as performing as expected and delivering strong returns in the context of a rising market. Notwithstanding a mixed macro picture for 2013 Intermediate Capital stated that it continued to see attractive investment opportunities for its funds.
Intermediate Capital is a specialist investment firm and asset manager. It structures and provides mezzanine finance, leveraged credit and minority equity, managing Euros 12.1bn of assets from third party investors and its balance sheet.
Intermediate Capital's share price was down 0.82% to 337.40p at 08:44 on Tuesday morning.
MF
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
