LONDON (dpa-AFX) - Intermediate Capital Group plc (ICP.L) said that assets under management have increased 3.5% since the start of the financial year to 11.8 billion euros. ICG's mezzanine portfolio performance continues to be resilient underpinning a solid performance for our mezzanine funds.
In an Interim Management Statement for the period to 9 July 2012, the company said it has a strong pipeline of investment opportunities, closing three deals in the quarter and, are in exclusivity on a fourth.
Further, ICG noted that credit portfolios have been defensively positioned and are showing resilience in the current market. As a result, the company's loan funds continue to deliver a strong performance, with default rates remaining minimal.
The Investment Company's portfolio performance remains resilient, although, the general economic conditions are impacting a small number of the company's weaker assets. New investments totalling 88 million pounds were made during the first quarter.
Copyright RTT News/dpa-AFX
© 2012 AFX News
