Shawbrook Group PLC

Pollen Street Group said its assets under management reached £8.5 billion at the end of June, split almost evenly between private equity and credit strategies, while fee-paying AUM rose 18% to £5.5 billion. The group raised £1.8 billion in credit capital that remained undeployed at period-end, supporting future fee growth, and completed fundraising for Private Credit Fund IV above expectations, with almost half of the larger fund already invested. Fund-management revenue increased 22% like-for-like and fund-management EBITDA rose 73% to £16.1 million, helped by a 90% increase in performance fees. The investment company's reported balance-sheet return was 3.4%, reduced by a 3.8% mark-to-market impact from Shawbrook's share-price decline and a 0.2% one-time equalization effect tied to the larger Credit IV; excluding those, the underlying return was 7.4%. Pollen Street returned £25 million to shareholders in the first half, including £7 million of buybacks, and announced a further £17 million interim dividend, while targeting a €1.75 billion to €2 billion size for Private Equity Fund VI.