REG - Pollen Street Group - Pollen Street Group Limited Q3 2024 Trading Update

Pollen StreetAnnouncement

12/12/2024 07:00

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RNS Number : 7614P  Pollen Street Group Limited  12 December 2024

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
(http://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
(mailto:PollenStreetCapital-LON@fgsglobal.com)

Link Company Matters Limited

 

Corporate Secretary

 

polncosec@linkgroup.co.uk (mailto:polncosec@linkgroup.co.uk)

 

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