(Alliance News) - Pollen Street PLC on Wednesday touts resilience as assets under management rise in the third quarter from the second.
As at September 30, the London-based asset manager reported assets under management of GBP4.2 billion, up 24% from GBP3.4 billion at June 30.
According to Pollen Street, both its Private Equity and Private Credit strategies remained resilient during the quarter, with "a good pipeline of opportunities" ahead. It remains confident in reaching the target size for the Private Equity fund, V, of EUR1 billion by the middle of 2024.
Further, the firm added that work on the change of its listing category and insertion of the new holding company is on track and expected to complete on January 24.
It had previously published a prospectus in November, relating to the change of its listing to a commercial company from an investment company, and the introduction of a Guernsey holding company to simplify its group structure.
Pollen Street shares were trading 3.7% lower at 564.25 pence each in London on Wednesday morning.
By Holly Beveridge, Alliance News reporter
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Pollen Street (POLN)