LONDON (dpa-AFX) - Specialist asset manager Intermediate Capital Group plc (ICP.L) reported that its total assets under management or AUM for the first quarter ended 30 June 2019 increased 4 percent from the end of preceding quarter to 38.6 billion euros, with 2.1 billion euros of new money raised in the first quarter.
New money raised includes 0.8 billion euros for the company's new Europe Mid-Market fund and 0.6 billion euros of segregated mandates raised for the company's Senior Debt Partners strategy.
Third-party fee earning AUMs were 5 percent higher at 31.0 billion euros, compared to 31 March 2019.
'Our new Europe Mid-Market strategy - an offshoot of our successful European Corporate fund strategy - has attracted significant inflows, demonstrating our ability to identify attractive new, adjacent strategies for our clients. We are making good progress with our two other newer strategies, Infrastructure Equity and Sale & Leaseback, and remain alert to the growth opportunities that will come from expanding our more mature strategies,' Benoit Durteste, CEO of Intermediate Capital, said.
Intermediate Capital also said that Philip Keller will retire as CFOO at its AGM later today, having completed the handover of his responsibilities to Vijay Bharadia who joined the Group in May.
Copyright RTT News/dpa-AFX