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
-
Who is the richest person in the world?The top five richest people in the world have a combined net worth of $825 billion. Who takes the crown for the richest person in the world?
-
Top 10 stocks with highest growth over past decade - from Nvidia, Microsoft to Netflix, which companies made you the most money?
We reveal the 10 global companies with the biggest returns since 2013. One firm has posted an astonishing 9,870% return, meaning a £1,000 investment would now be worth almost £82,000.
