Pollen Street Group

Last updated

Pollen Street Group Limited
Company type Public
LSE:  POLN
Industry Financial services
Founded2013
Headquarters London, England
Key people
Robert Sharpe (Chairman)
Lindsey McMurray (CEO)
RevenueIncrease2.svg £62.8 million (2023) [1]
Increase2.svg £38.9 million (2023) [1]
Increase2.svg £40.4 million (2023) [1]
Website ir.pollenstreetgroup.com

Pollen Street Group Limited is a British private investment business focussed on alternative investments in the financial and business services sectors. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Contents

History

Pollen Street Capital Holdings was founded by Lindsey McMurray and her team as an alternative investment manager spun out from Royal Bank of Scotland in 2013. [2] It was the manager of Pollen Street Secured Lending under it was acquired by Waterfall Asset Management in March 2021. [3] In February 2022, the company announced the launch of its fifth mid-market private equity fund with a cash requirement of c. £1 billion. [4]

In September 2022, Pollen Street Capital Holdings was acquired by a listed vehicle, Honeycomb Investment Trust. [5] [6] Pollen Street Capital Holdings had been the manager of Honeycomb Investment Trust and the transaction enabled Pollen Street Capital Holdings to secure a listing on the London Stock Exchange. It also enabled Pollen Street Capital Holdings to use its extensive pipeline of loans to expand the investment trust. [7] [8] Honeycomb Investment Trust changed its name to Pollen Street in October 2022. [9]

In January 2024, Pollen Street changed its listing category from that of an investment trust to that of a commercial business and renamed itself Pollen Street Group. [10] [11] Then, in March 2024, Pollen Street Group acquired the financial advisory firm, Mattioli Woods, for £432 million. [12]

Operations

The company had £4.2 billion of assets under management as at 31 December 2023. [1]

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References

  1. 1 2 3 4 "Annual Report 2023" (PDF). Pollen Street Group. Retrieved 14 January 2025.
  2. "Pollen Street reaches long awaited financial close on fund III". Private Equity International. 14 February 2018. Retrieved 14 January 2025.
  3. "Timetable revealed for Waterfall acquisition of Alternative Credit Investments". P2P Finance News. 25 November 2020. Retrieved 29 April 2021.
  4. "Pollen Street listing reveals deeper push into credit". Private Equity International. 16 February 2022. Retrieved 14 January 2025.
  5. "Honeycomb completes acquisition of Pollen Street Capital". Alternative Credit Investor. 30 September 2022. Retrieved 14 January 2025.
  6. "£340m Honeycomb trust merges away after failing to shake off Woodford discount". Portfolio Advisor. 15 February 2022. Retrieved 14 January 2025.
  7. "An unwelcome merger deal for the Honeycomb Investment Trust". Money Week. 14 March 2022. Retrieved 14 January 2025.
  8. "Sweet deal for Pollen Street as 'alt' manager to float through Honeycomb merger". CityWire. 15 February 2022. Retrieved 14 January 2025.
  9. "Honeycomb Investment Trust changes name to Pollen Street PLC". Proactive Investors. 7 October 2022. Retrieved 14 January 2025.
  10. "Former Honeycomb trust set to leave sector by Q1 2024". CityWire. 19 September 2023. Retrieved 14 January 2025.
  11. "Pollen Street eyes exit from investment trust sector". Investment Week. 19 September 2023. Retrieved 14 January 2025.
  12. "Ex-Honeycomb manager Pollen buys Mattioli Woods for £432m". The Association of Investment Companies. 8 March 2024. Retrieved 14 January 2025.