Pollen Street credit fund to reach £1bn by 2025
Pollen Street Capital’s Credit IV fund is on track to reach its £1bn fundraising target in 2025, as the asset manager’s assets under management (AUM) continue to grow.
In an update to investors, Pollen Street reported that its AUM reached £5bn as of 30 September 2024 – up from £4.2bn a year earlier. Fee-paying AUM was £3.5bn.
The asset manager added that ongoing fundraising and capital deployment is driving AUM growth, while fundraising in its Private Equity Fund V and Credit IV is on track to meet its targets.
Read more: Pollen Street sees AUM rise by a third to £4.5bn
On the credit side of the business, Pollen Street said a number of deals have already closed in the year to date.
“The medium-term growth prospects for private markets are promising, and Pollen Street is confident in its long-term strategic opportunities, leveraging its expertise in financial services and delivering sustained value to clients and shareholders,” said a company spokesperson.
Read more: Pollen Street lifts guidance after 2023 growth beats targets
Meanwhile, Pollen Street’s investment company has generated a risk-adjusted net investment return of 8.3 per cent in the year-to-date, ending 30 September. As of this date, net investment assets stood at £464m.
The investment company is in the process of transitioning from direct investments to investments via Pollen Street funds, while broadly maintaining its credit focus. It has committed approximately £185m to Pollen Street funds, with 47 per cent drawn as of 30 September 2024. The remaining commitment will be drawn as funds deploy, the firm added.
Read more: Pollen Street Capital invests €200m in Finnish lender
