**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.
Foresight Group Financials Comparison (H1 FY26 vs FY25)
| Metric | H1 FY26 (Sep 2025) | FY25 (Mar 2025) | Change % |
|---|---|---|---|
| Assets Under Management (AUM) | £13.6 billion | £13.2 billion | +3% |
| Funds Under Management (FUM) | £9.6 billion | £9.6 billion | +1% |
| Divisional AUM Movement (£ billion) | |||
| Real Assets | 10.8 | 10.2 | +6% |
| Private Equity | 1.8 | 1.8 | -1% |
| FCM | 1.1 | 1.2 | -9% |
Note: Debt figures are not provided in the source text.
### Key Points: 1. **AUM and FUM**: Both metrics increased slightly year-on-year, with AUM up by 3% and FUM up by 1%. 2. **Divisional AUM**: Real Assets saw a 6% increase, while Private Equity and FCM experienced minor declines. 3. **Debt**: No debt-related figures were provided in the text, so the table excludes this metric. This HTML code creates a styled table for easy comparison of the available financial data.