London, Feb 15, 2026, 16:03 GMT — Market closed.
- ICG last closed at 1,704p, up 0.18% on Friday.
- The FTSE 100 rose 0.4% on Friday, notching a third straight weekly gain.
- Next scheduled ICG milestones are a March 24 shareholder seminar and full-year results on May 21.
Shares in ICG plc (ICG.L) closed up 0.18% at 1,704 pence on Friday, the last London session before the weekend. (Hargreaves Lansdown)
The move came as the FTSE 100 rose 0.4% and marked a third straight week of gains, helped by takeover activity and expectations of interest-rate cuts, despite fresh unease over AI-driven disruption in parts of the market. (Reuters)
Money managers have been at the centre of the deal talk after Schroders agreed to be taken over by U.S. group Nuveen, with rivals squeezed by low-cost passive funds and bigger U.S. competitors; Morningstar analyst Johann Scholtz pointed to names such as Jupiter and Liontrust as relatively cheap on a market-value basis. “I would like to say this is parking a very large tank on everyone’s lawn,” Schroders CEO Richard Oldfield told Reuters. Oliver Wyman partner Giambattista Taglioni warned “cost savings are hard to realise in a people‑driven business, with the risk of losing talent or clients.” (Reuters)
ICG, which runs private-market strategies, said in its latest trading update it had $127 billion of assets under management at Dec. 31, with $85 billion classed as fee-earning — meaning it generates regular management fees. It reported $36 billion of “dry powder”, including $19 billion not yet earning fees, and said transaction activity was showing a modest recovery. (ICG)
Fee-earning AUM is the slice that generates regular management fees; “dry powder” is money already committed by investors that has yet to be invested. Those are the lines traders keep coming back to, because they feed through to fee growth and, eventually, performance fees.
About 2.3 million ICG shares traded on Friday, and the stock’s 52-week range runs from 1,539 pence to 2,468 pence, according to London Stock Exchange data. (London Stock Exchange)
With the next session due on Monday, investors are watching whether the takeover bid tone in UK financials spills over into the wider asset-management space, and whether rate-cut bets keep supporting valuations.
But the downside case for ICG is less about deal headlines and more about the private-markets cycle. If exits slow again or portfolio values get marked down, fundraising, fee-earning assets and performance fees can take a hit.
The next company-set milestones are an online shareholder seminar on ICG Real Estate on March 24 and its full-year results announcement on May 21. (ICG)
