Key Highlights
Half-Year Activity Update
- FPAUM increased from €98.2bn as at 31 December 2023 to €142.4bn as at 30 June 2024, or +45%, driven by the activation of Europe / Americas Fund IX and Asia VI, and the addition of Infrastructure1. Total AUM reached €193bn
- Strong recovery in H1 2024 deployment activity: +63% vs. H1 2023, primarily driven by a significant increase in Private Equity investing
- Similar recovery in H1 2024 realisations: +108% vs. H1 2023 driven by an increase in corporate and sponsor M&A
- Our portfolio performance continues to be resilient across all strategies, performing on or above plan2
- Following a record fundraising year in 2023 (c.€34bn3), we continue executing on our fundraising targets and are progressing according to plan
Rob Lucas, CEO, comments: “Despite continued macroeconomic and geopolitical uncertainty, we are pleased by the recovery in deployment and realisation activity, and the continued resilient performance across our portfolio. In addition, we are delighted to have completed our acquisition of CVC DIF and the acquisition of the final stake in CVC Secondary Partners. Overall, we are encouraged by our H1 performance, and we believe this represents a good start to delivering on our full year targets for 2024.”
1. Acquisition of CVC DIF signed in September 2023 and completed on 1 July 2024. Europe / Americas Fund IX, Asia VI and Strategic Opportunities III were each activated on 3 May 2024, at the earlier end of the mid-2024 guidance. Strategic Opportunities III is not included in FPAUM given fees are paid on invested capital.
2. List of material funds and definition of “on plan” and “above plan” as per page 3.
3. Including Infrastructure fundraising during the period.