Pollen Street AuM continues to grow in Q3

Asset manager Pollen Street said on Wednesday that assets under management continued to grow in the three months ended 30 September.

Pollen Street said assets under management closed the period at £4.2bn, up from £3.4bn at the end of the previous quarter, as its performance in both private equity and private credit strategies remained "resilient" in a "changing macro environment, with a "good" pipeline of opportunities Average fee-paying AuM was £2.9bn for the year to 30 September.

The London-listed firm also said it remains "confident" in reaching the target size for its private equity fund V of €1.0bn by the middle of 2024.

Pollen Street added that work on its change of listing category to a commercial company from an investment company and insertion of the new holding company was "on track" and expected to be completed on 24 January 2024.

As of 1425 GMT, Pollen Street shares were down 1.37% at 578.0p.

Reporting by Iain Gilbert at Sharecast.com