Half Year 2024 ICG Enterprise Trust PLC Earnings Call Transcript

Oct 05, 2023 / 09:00AM GMT
Operator

Good morning, everyone, and welcome to ICG Enterprise Trust's results for the six months ending July 31, 2023. I am delighted to be joined by the two portfolio managers, Oliver Gardey and Colm Walsh, who will give you have a brief overview of the results. The presentation can be found on our website.

(Operator Instructions) Oliver, over to you.

Oliver Gardey - ICG Enterprise Trust PLC - Head of Private Equity Fund Investments

Thank you, Chris. Let's begin with the key takeaways for the first half of the financial year. Firstly, portfolio performance was robust. We are up 4.6% on a local currency basis, which has been supported by double-digit revenue and earnings growth from our underlying portfolio.

Secondly, both realizations and new investment activity have continued. Despite a slower transaction environment, and we do see realizations to continue to be at significant uplifts to holding values, demonstrating we believe the embedded value in the portfolio.

Thirdly, the diversified base of the ICG portfolio supported our primary

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