ICG Enterprise Trust Newsletter – May 2026

Portfolio Managers Oliver & Colm on our full-year results roadshow and Shareholder Seminar

We write this as we are on our full-year results roadshow, meeting professional investors and analysts to discuss ICGT and the sector more broadly. This follows our full-year results announcement last week (available here), where our key takeaways were:

  • Portfolio companies are performing well, reporting 13% EBITDA growth during the year1
  • ICGT gives shareholders exposure to a number of long‑term growth trends, with diversification across sectors and geographies
  • The Company has a strong balance sheet, with low net debt and high liquidity. This provides flexibility to keep investing through the cycle and maintain vintage diversification

Of course, these results reflect the twelve months up to 31 January 2026. Clearly a lot has happened since then, and we addressed some of that in our recent Shareholder Seminar. In response to your feedback last year, we’ve cut the videos into shorter ‘clips’ including:

  • Our Chair, Jane Tufnell, discusses the value of diversification and how the Board approaches long-term shareholder returns – watch here
  • Our thoughts on software, and how ICGT’s exposure remains small relative to the wider market and focused on mission-critical resilient companies – watch here
  • How we are thinking about the period ahead, and ICGT’s priorities – watch here

The full video series is available here.

We feel very confident in the long-term outlook for private equity returns, if you can get access to the right managers. ICGT has the network and track record to enable us to do just that. The listed nature of investment trusts means that you, as shareholders, have a tradable exposure in private assets. We think that is an attractive proposition.

Finally, you’ll have noticed some changes to our website shareholder tools. Hopefully you’ll find this more intuitive to track the ICGT share price and see our dividends and buybacks. All feedback welcome (please email [email protected]).

With best wishes,
Oliver and Colm

Past performance is not a reliable indicator of future results.

Unsure of some of these terms? See our Glossary

1 Source: ICG Enterprise Trust, data as at 31 July 2025