12 December 2024
Pollen Street Group
Limited: Q3 2024 Trading
Update
Strong performance and
strategic progress with continued AUM growth
Pollen Street Group Limited ("Pollen
Street", together with its subsidiaries, the "Group") today issues
its trading update for the period ended 30 September 2024. Pollen
Street continues its strong H1 2024 performance, with ongoing
fundraising and capital deployment driving AuM growth.
Asset Manager
· Total
AUM reached £5.0 billion as of 30 September 2024, up from £4.2
billion in Q3 2023 and fee-paying AUM stands at £3.5 billion as of
30 September 2024 as fundraising continued steadily across the
platform but with most capital being raised in Q4.
· In
credit, a number of deals closed in the year and together with a
strong pipeline AUM is building well towards the end of the
year.
· Private
Equity V fundraise is progressing well, with advanced investor
discussions and expectations to meet its €1 billion target by 2024
year-end. Credit IV fundraising is on track to achieve the £1
billion target in 2025.
· The
Asset Manager continues to thrive, with both Private Equity and
Private Credit strategies in active fundraising, capitalising on
robust performance and positioning us for further
success.
Investment Company
· The
investment company has generated a risk adjusted net investment
return of 8.3% year-to-date. As of 30 September 2024, Net
Investment Assets stood at £464 million.
· Pollen
Street continues to maintain a strong balance sheet, underpinned by
the performance of its high-quality portfolio. The company
continues to generate strong levels of risk-adjusted income as it
transitions from direct investments to investments via Pollen
Street funds, while broadly maintaining its credit
focus.
· The
Investment Company has committed c.£185 million to Pollen Street
funds, with 47% drawn as of 30 September 2024. This allocation
leverages attractive returns from Private Equity and Private Credit
strategies, aligning with investor interests and accelerating AuM
growth. The remaining commitment will be drawn as funds deploy,
ensuring continued investment momentum.
The medium-term growth prospects for
private markets are promising, and Pollen Street is confident in
its long-term strategic opportunities, leveraging its expertise in
financial services and delivering sustained value to clients and
shareholders.
LEI: 894500LP94M98N8CY487
About Pollen Street Group Limited
Pollen Street is an alternative
asset manager dedicated to investing within the financial and
business services sectors across both Private Equity and Private
Credit strategies. The business was founded in 2013 and has
consistently delivered top tier returns alongside growing
AuM.
Pollen Street benefits from a
complementary set of asset management activities focused on
managing third-party AuM (the "Asset Manager") together with
on-balance sheet investments (the "Investment Company").
The Asset Manager raises capital
from high quality investors and deploys it into its Private Equity
and Private Credit strategies. The strong recurring revenues from
this business enable delivery of scalable growth.
The Investment Company invests in
the strategies of the group delivering attractive risk adjusted
returns and accelerating growth in third-party AuM of the Asset
Manager through investing in Pollen Street funds, taking advantage
of attractive investment opportunities and aligning interest with
our investors to grow AuM. Today the portfolio is largely invested
in credit assets with the allocation to Private Equity expect to
increase to 30 per cent in the long term. The portfolio consists of
both direct investments and investments in funds managed by Pollen
Street.
POLN is listed on the London Stock
Exchange (ticker symbol: POLN). Further details are available
at www.pollenstreetgroup.com.
For further information about this
announcement please contact:
Pollen Street - Corporate Development
Director
Shweta Chugh
+44 (0)20 3965 5081
Barclays Bank plc - Joint Broker
Neal West / Stuart Muress
+44 (0)20 7623 2323
Investec Bank plc - Joint Broker
Ben Griffiths / Kamalini
Hull
+44 (0)20 7597 4000
FGS
Global
Chris Sibbald / Anna
Tabor
PollenStreetCapital-LON@fgsglobal.com
Link Company Matters Limited
Corporate Secretary
polncosec@linkgroup.co.uk
