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Prices & Quotes - UK Markets - Intermediate Capital Group (ICP)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 1,171.00p
Change Today:
-54.00p
Market Cap:
3,444.90m
Sector:
Financial Services

Intermediate Capital posts Q1 AuM increase, eyes slower fundraising

By Alexander Bueso

Date: Tuesday 21 Jul 2020

LONDON (ShareCast) - (Sharecast News) - Intermediate Capital Group saw a continued pick-up in business in the June quarter with activity in some segments having returned to their pre-Covid-19 levels, although fundraising was expected to slow throughout the year.
Assets under management were 1.0% higher quarter-on-quarter at €45.6bn during the second quarter, as portfolio valuations recovered amid "good" or positive signals for future activity.

The firm, which specialises in private debt, credit and equity said that realisation activity of €559m had resumed at pre-Covid 19 valuations and that it had clinched €2.4bn of deals in exclusivity, terming the latter a "good indicator of investment pace and future fundraising pipeline".

The company raised €1.236bn of new money in the first quarter of its financial year, despite the longer onboarding process as a result of the pandemic, "with good visibility for the coming months".

Indeed, ICG chief, Benoit Durteste, said that the "early rebound" in investment activity as lockdown measures were lifted and business activity resumed, "bode well for next year's fundraising prospects".

Expectations for the current year however were for a slowdown in fundraising given the disruption from the pandemic and the "natural fundraising cycle for our larger funds".

Once the Senior Debt Partners strategy was fully raised, ICG said that it was not planning to have any larger funds in the market during the current financial year.

According to the company, there were further net inflows into its Senior Debt Partners strategy and across its Capital Markets strategy.

ICG also raised €0.2bn for its Asia Pacific strategy and closed a European Collaterised Loan Obligation during the past quarter.

By strategic asset class, third party AuM in corporate and capital market investments increased but secondary investments and those in real assets fell.

Management described the alternative asset managers' financial position as "robust", telling shareholders that its balance sheet was well-capitalised, with 1.1bn of liquidity available.

As of 0813 BST, shares of Intermediate Capital Group were 0.5% higher at 1,407.0p.

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ICP Market Data

Currency UK Pounds
Price 1,171.00p
Change Today -54.00p
52 Week High 1,877.00p
52 Week Low 559.50p
Volume 869,242
Shares Issued 294.18m
Market Cap 3,444.90m

Performance Indicators

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What The Brokers Say

Strong Buy 6
Buy 1
Neutral 0
Sell 0
Strong Sell 1
Total 8
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

ICP Dividends

  Latest Previous
  Final Interim
Ex-Div 18-Jun-20 05-Dec-19
Paid 05-Aug-20 14-Jan-20
Amount 35.80p 15.00p

Trades for 28-Oct-2020

Time Volume / Share Price
16:39 1,135 @ 1,171.00p
16:36 251 @ 1,171.00p
16:36 1,899 @ 1,171.00p
16:36 3,483 @ 1,171.00p
16:36 474 @ 1,171.00p

ICP Key Personnel

CEO Benoit Durteste
Chair Davies of Abersoch