ICG Plc (FRA:I2X2)

Half Year 2026 ICG PLC Earnings Call Transcript

Nov 18, 2025 / 09:00 AM GMT

Release Date Price: €22.2 (+1.83%)

Transcript

Key Points

Positve

ICG Plc (FRA:I2X2) reported impressive H1 results with significant growth in fundraising, surpassing expectations with $9 billion raised.
The strategic partnership with Amundi is expected to enhance ICG's wealth strategy and expand its product offerings, potentially adding significant value.
Management fees increased by 16% to 334 million pounds, demonstrating strong revenue growth.
The company's operating cash flow increased significantly to 450 million pounds, indicating robust cash generation.
ICG's focus on higher return strategies has led to a diversified and resilient business model, with a substantial increase in fee-earning AUM.

Negative

The global private capital market remains challenging, with fundraising expected to be lower for the fourth consecutive year.
There is increased competition and scrutiny from institutional clients, particularly regarding realized performance or DPI.
The private debt market is growing at a slower pace, requiring disciplined investment strategies.
The partnership with Amundi, while promising, involves exclusivity which may limit distribution through other channels.
The current market environment is cautious, with some areas showing signs of overheating, particularly in the US.

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

ICGIN.L - ICG PLC
Half Year 2026 ICG PLC Earnings Call
Nov 18, 2025 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning.

Thank you for joining this webcast, covering ICG's results for 6 months and the 30th of September 2025 and the strategic partnership with the Mundi we've announced this morning. The slides are available on our website along with both accompanying announcements. 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 Binra de Test and our CFO David Bicarrecki.

They'll give an overview of our performance during the period and we will then take questions. You can submit these through the webcast message function or by

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