ICG hails 'strong' annual results as fee-related earnings rise
ICG PLC on Thursday reported an increased total dividend, as it said it is experiencing ‘clear demand’ from institutional allocators globally.
The London-based private equity asset manager reported assets under management of $126 billion as at March 31, up 13% from $112.5 billion a year prior. Fee earning AuM was $86.5 billion, up 15% from $75.1 billion.
ICG reported $17 billion of fundraising for the financial year, exceeding its expectations.
Chief Executive & Chief Investment Officer Benoit Durteste noted ‘the successful final closes for Infrastructure II and Metropolitan II mean we have now had six funds close at or above their target in the last 24 months.’
ICG reported management fees of £684.8 million, up 13% from £603.8 million, with fee-related earnings rising 23% to £349.5 million from £283.6 million.
Performance fees were up 47% to £127.0 million from £86.2 million.
Total revenue for the financial year was £1.04 billion, up 15% from £970.9 million, while pretax profit grew 11% to £588.2 million from £530.5 million.
The company proposed a final dividend of 59.3p per share, up 4.6% from 56.7p. This brought its total dividend to 87p, up 4.8% from 83p.
Shares in ICG were down 0.7% at 1,820.00 pence on Thursday morning in London.
‘FY26 was a strong year for ICG. We reinforced our scaled competitive position, established a strategic relationship with Amundi, and built on our track record of strategic and financial resilience,’ commented CEO & CIO Durteste.
‘We are experiencing clear demand from institutional allocators globally for our strategies, and are unaffected by challenges being faced by certain evergreen vehicles in the US. I believe ICG is well positioned to continue generating compounding long-term shareholder value.’
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