Pollen Street announces positive first quarter

3rd May 2024 08:21

(Sharecast News) - Pollen Street Group announced positive results in the quarter ended 31 March on Friday, highlighting significant fundraising success across both its private credit and private eEquity strategies.

The London-listed company said that within private credit, it completed the first close of Fund IV, securing £300m in investor commitments.

A separately-managed account, announced previously, was upsized to £280m, with the influx of capital positioning Pollen Street to actively pursue new credit deals.

The firm said its private equity strategy was also on track, with fundraising progressing towards its €1bn target for Fund V.

Total assets under management increased to £4.4bn as of 31 March.

Pollen Street said its investment company was continuing to perform as expected, delivering a strong return on net investment assets in the first quarter of 2024.

At 0810 BST, shares in Pollen Street Group were up 0.89% at 680p.

Reporting by Josh White for Sharecast.com.