**Summary**
Pollen Street Group Limiteds full-year 2025 trading update highlights significant growth and strategic achievements. The company reported a 30% increase in Total Assets Under Management (AUM) to ยฃ7.1 billion, with Fee-Paying AUM rising 32% to ยฃ5.2 billion. This growth was driven by successful fundraising in both Private Equity and Private Credit strategies, with flagship funds significantly outperforming targets.
Financial performance was robust, with a 14% increase in Profit After Tax to ยฃ56.6 million and a 19% rise in Earnings Per Share (EPS) to 93.7p. The Asset Management segments share of net revenues grew to 71%, and the company deployed ยฃ1.6 billion across its strategies.
Key highlights include the final close of Private Equity Fund V at โฌ1.5 billion and Private Credit Fund IV reaching ยฃ1.8 billion, with further commitments expected. The company also declared a total dividend of 58.0 pence per share, 8% higher than the previous year, and reaffirmed its medium-term target of reaching ยฃ10 billion in Total AUM.
CEO Lindsey McMurray attributed the success to strong fundraising, disciplined underwriting, and active portfolio management. The company remains focused on deploying capital, preparing for new investment strategies, and delivering sustainable value to investors and shareholders.
Despite market challenges, Pollen Street Group demonstrated resilience, with its shares outperforming the FTSE 250 index in 2025. The companys strategic priorities for 2026 include continued deployment of capital, preparing for the next generation of investment strategies, and maintaining its progressive dividend policy.
The Boards decision to adjust the allocation of Carried Interest in Private Credit Fund IV reflects the companys commitment to recognizing individual contributions and supporting long-term growth. Pollen Street Group enters 2026 with momentum, a robust pipeline, and confidence in its ability to capitalize on opportunities for sustainable growth.
**Year-on-Year Financial Comparison:**
- **Assets Under Management (AUM):** Increased by 30% from ยฃ5.4 billion in 2024 to ยฃ7.1 billion in 2025.
- **Fee Paying AUM:** Grew by 32% from ยฃ4.0 billion in 2024 to ยฃ5.2 billion in 2025.
- **Fund Management Income:** Rose by 21% from ยฃ66.8 million in 2024 to ยฃ81.1 million in 2025.
- **Fund Management EBITDA:** Increased by 17% from ยฃ27.2 million in 2024 to ยฃ31.7 million in 2025.
- **Profit After Tax:** Climbed by 14% from ยฃ49.6 million in 2024 to ยฃ56.6 million in 2025.
- **EPS:** Jumped by 19% from 78.8p in 2024 to 93.7p in 2025.
- **DPS:** Increased by 8% from 53.6p in 2024 to 58.0p in 2025. **Debt Comparison:**
- **Interest-bearing borrowings (Current):** Decreased by ยฃ377 million from ยฃ498 million in 2024 to ยฃ121 million in 2025.
- **Interest-bearing borrowings (Non-current):** Increased by ยฃ11.771 billion from ยฃ187.767 billion in 2024 to ยฃ199.538 billion in 2025.
- **Total Interest-bearing borrowings:** Increased by ยฃ11.394 billion from ยฃ188.265 billion in 2024 to ยฃ199.659 billion in 2025.