**Summary**
Foresight Group Holdings Limited (FGHL) released its H1 FY26 trading update on October 8, 2025, highlighting strong performance and growth across its investment management business. Key points include
1. **Financial Performance**
Core EBITDA pre-SBP is in line with management expectations and consensus estimates.
Recurring revenue is expected to remain within the target range of 85-90%.
2. **Assets Under Management (AUM) and Funds Under Management (FUM)**
AUM increased by 3% to £13.6 billionand FUM rose by 1% to £9.6 billion.
£223 million was raised into higher-margin retail vehicles, with a strong pipeline for H2.
€505 million in commitments secured for Foresight Energy Infrastructure Partners II (FEIP II), with a target fund size of €1.25 billion by mid-2027.
3. **Key Investments and Transactions**
FEIP II completed a £210 million investment in UK battery storage, acquiring Harmony Energy Income Trust (HEIT).
The sale of Zenith Energy in Australia generated performance fees, valuing the asset materially <mark style="background-color:yellow">above</mark> prior holdings.
4. **Post-Period Developments**
A £90 million first close of a 16th regional private equity fund, continuing the multi-vintage roll-out strategy.
5. **Outlook**
Sustained investor appetite for specialist products, particularly higher-margin business relief offerings.
Confidence in achieving FEIP II’s target fund size despite slower initial fundraising.
Guidance maintained to double core EBITDA pre-SBP by FY29.
6. **Interim Results**
Scheduled for release on December 2, 2025, with an analyst presentation on the same day.
FGHL remains focused on managing long-duration capital and diversifying its fundraising pipeline to drive profitable growth, supported by its commitment to sustainable and impactful investments.
**Disclaimer**The announcement contains forward-looking statements subject to risks and uncertainties, and actual results may differ materially.