Pollen Street Group Ltd on Tuesday reported third-quarter growth in assets under management, driven by fundraising momentum and deployment across both its private credit and private equity businesses.
The alternative asset manager said total assets under management rose 9.9% to £6.7 billion at September 30, up from £6.1 billion at June 30 and 32% higher than a year earlier.
Fee-paying AuM climbed 9.7% over the quarter to £5.1 billion, supported by strong origination in private credit, further deployment in private equity and the final close of Private Equity Fund V.
Pollen Street said its private credit strategy ‘continues to perform strongly,’ with investors showing sustained appetite for asset-based lending opportunities.
Six new private credit transactions were completed in the quarter.
Borrower commitments increased to £2.7 billion, from £2.4 billion three months earlier, while drawn balances rose £300 million to £2.0 billion.
Private Credit Fund IV has now exceeded its initial target, securing £1.1 billion in commitments following a recent close. A final close is expected in the first quarter of 2026.
The group’s investment company delivered an annualised net investment return of 8.4% year-to-date, or 9.1% before equalisation adjustments. Net investment assets rose to £331 million from £319 million at June 30.
Pollen Street said it is ‘progressing well’ toward its medium-term target of £10 billion in AuM, supported by a growing investor base and resilient market demand for private capital strategies.
Trading remains in line with expectations, it added.
The group will host a Private Credit Teach-In for analysts and institutional investors in London on November 24.
Shares in Pollen Street were up 0.1% at 844.96 pence in London on Tuesday morning.
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