Foresight Group Holdings Ltd on Tuesday said that it is on track to perform in line with market expectations, following successful realisation in the third quarter.

The infrastructure and private equity investment manager reported assets under management on December 31 of £12.4 billion, up 1.6% quarter-on-quarter from £12.2 billion. Funds under management were flat at £8.8 billion.

Foresight said it had secured performance fees from successful realisations, which contributed £1.9 million in the third quarter.

Looking ahead, the firm said it is on track to ‘strongly outperform the prior year’, in line with market expectations for earnings before interest, tax, depreciation and amortisation of £59.3 million.

‘We delivered robust inflows into higher margin retail vehicles, successful institutional fundraising, and profitable exits from our private equity business. Our pre-marketing discussions have also shown signs of improving sentiment in the institutional infrastructure fundraising market,’ said Executive Chair Bernard Fairman.

‘[We] remain confident that the group will continue to deliver against our strategic growth targets as our three business divisions combine to extend our consistent track record of profitable growth.’

The firm declared an interim dividend of 6.7 pence per share, up 46% from 4.6p a year prior.

Foresight Group shares were flat at 411.90 pence each in London on Tuesday morning.

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