Pollen Street announces positive first quarter

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.