Portfolio performance

Top 30 companies' revenue

14.9%

Last 12 months (LTM) growth1

Investment portfolio return

7.3%

LTM on a local currency basis1

Portfolio value

£1,399m

At 31 Jul 2023

Top 30 companies' EBITDA2

14.7%

LTM growth1

Investment portfolio return

1.6%

Sterling3

Continuing our track record of growth

At 31 July 2023, our Portfolio was valued at £1,399m. Over the last five years, our Portfolio has generated an annualised Portfolio Return on a Local Currency Basis of 17.9% and 7.3% on an LTM basis.

3D rendered financial performance bar chart results shot on a reflective background

Realisation activity

Realisation activity during the six months to 31 July 2023, generated Total Realisation Proceeds of £94.1m.

There were 17 Full Exits. These were completed at a weighted average Uplift to Carrying Value of 17.7% and weighted average Multiple to Cost of 4.0x.

The 10 largest underlying realisations in the period represent 65.8% of Total Realisation Proceeds and included Endeavour Schools (£32.9m), Signify Health (£8.3m) and Breitling (£3.9m).

£94m

Realisation proceeds

18%

Realisation uplift

4.0x

Multiple of costs of realisations

Investment activity

Total new investment of £64.1m in the six months to 31 July 2023, of which 5.4% (£9.9m) were alongside ICG.

61%

Invested via Primary funds

29%

Invested in Direct investments

10%

Invested in Secondary investments