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Highlights

  • Assets under management rose 14% to $112 billion, with fee-earning AUM up 8% to $75 billion.

  • Fund management profit before tax increased 23% to £461 million; operating cash flow surged 44%.

  • Company to rebrand as ICG Plc, subject to shareholder approval.

Shares of Intermediate Capital Group (LSE:ICP) topped the FTSE 100 leaderboard on Wednesday morning after the alternative asset manager reported robust full-year results marked by strong growth across key financial metrics and unveiled plans to rebrand the company.

Describing the period as a "milestone" year, the firm reported a 14% increase in assets under management (AUM), reaching $112 billion as of the March year-end. Fee-earning AUM rose 8% year-on-year to $75 billion.

Management fees climbed 19% to £604 million, reflecting the expansion of the firm’s investment platform. Fundraising efforts during the year totalled $24 billion, including key mandates such as the world’s largest private equity fund focused on GP-led secondaries and Europe’s largest direct lending fund.

Fund management profit before tax rose 23% to £461 million. However, the group’s overall profit before tax declined 11% to £532 million, primarily due to lower earnings from its Investment Company division, which utilises the firm’s balance sheet to support new strategies.

Operating cash flow recorded a significant 44% increase to £518 million. On the back of these results, the board declared a total dividend of 83 pence per share, representing the fifteenth consecutive annual increase.

The company also announced plans to change its name to ICG Plc, subject to shareholder approval. 

Chief executive and chief investment officer Benoît Durteste commented, “FY25 was a milestone year for ICG during which we made significant progress in delivering on our ambition to offer our clients and shareholders breadth at scale.”

The company’s shares responded positively to the announcement, registering the strongest gain on the FTSE 100 index during Wednesday’s morning session.