Intermediate Capital Group (CHIX:ICGl)
ÂŁ 21.5 +0.46 (+2.19%) Market Cap: 6.27 Bil Enterprise Value: 11.77 Bil PE Ratio: 14.02 PB Ratio: 2.52 GF Score: 73/100
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Full Year 2025 Intermediate Capital Group PLC Earnings Call Transcript

May 21, 2025 / 08:00 AM GMT
Release Date Price: ÂŁ20.53 (-0.44%)

Key Points

Positve
  • Intermediate Capital Group PLC (FRA:I2X2) achieved $24 billion in fundraising and a new high of 600 million pounds in management fees, up 19% year on year.
  • The company has $32 billion of dry powder available, providing significant firepower for future opportunities.
  • ICG has reinforced its market-leading positions in GP-led secondaries globally, European direct lending, and structured capital.
  • The company successfully raised three scaling strategies, including North America Credit Partners and European infrastructure equity, now positioned for further growth.
  • Management fees increased by 19% year on year, and fund management company profit before tax rose by 23%.
Negative
  • The direct lending segment faces challenges due to depressed buyout transaction activity and valuation spreads.
  • The fundraising cycle is expected to be barbelled, with FY26 and likely FY27 being low irrespective of market conditions.
  • Despite strong performance, the ongoing macro uncertainty presents a wide range of potential outcomes.
  • The company has significant AUM not yet earning fees, particularly in private debt, which could impact short-term revenue.
  • The private markets environment remains challenging, which could affect future fundraising and deployment activities.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ICGIN.L - Intermediate Capital Group PLC
Full Year 2025 Intermediate Capital Group PLC Earnings Call
May 21, 2025 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning.

Thank you for joining ICG's results for the 12 months ending 31st of March 2025. The slides are available on our website along with the accompanying results announcement. And as a reminder, unless otherwise stated, all financial information discussed today is based on alternative performance measures, which exclude the consolidation of some of our fund structures required under IFRS.

This morning, I'm joined by our CEO and CIO Bernard Orest, and our CFO David Biccareggi. They will give an overview of our performance during the period, and we will then take questions. You can submit these through the webcast messaging function or by telephone. More details are on the online
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