Assets under management at mezzanine finance specialist Intermediate Capital have headed higher since the end of March.
Assets under management are up 3.5% to €11.8bn since the beginning of the company's financial year.
On the mezzanine funds side, the group said it is making progress towards the €2bn target for its European Fund V and the launch of a successor to its Longbow fund.
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
As for its credit funds, the portfolios have been "defensively positioned" and "are showing resilience in the current market," the group said. As a result, the company added, the loan funds continue to deliver a strong performance, with minimal default rates.
The investment company's portfolio performance was also described as "resilient", although, the general economic conditions are affecting a small number of the group's weaker assets.
A total of £41m of principal repayments have been received in the quarter and £10m of rolled up interest has been crystallised. New investments totalling £88m were made during the quarter. The group had untapped bank facilities of £449m as at the end of June.
JH
