21 October 2024
Pollen Street Group Limited - Directorate Change
Pollen Street Group Limited ("Pollen Street" or "the Group", LSE: POLN) announces today that Lucy Tilley stepped down as Chief Financial Officer and Executive Director of the Board by mutual agreement on 18 October 2024.
Robert Sharpe, Company Chairman commented:
"We wish Lucy well for the future. The Group's finance function remains well placed to support Pollen Street's ongoing operations and has benefited from significant investment in the team this year. The Board is carefully considering a future appointment and will update the market in due course."
For further information about this announcement please contact:
Pollen Street - Corporate Development Director
Shweta Chugh
+44 (0)20 3965 5081
Barclays Bank plc - Joint Broker
Neal West / Stuart Muress
+44 (0)20 7623 2323
Investec Bank plc - Joint Broker
Ben Griffiths / Kamalini Hull
+44 (0)20 7597 4000
FGS Global
Chris Sibbald / Anna Tabor
PollenStreetCapital-LON@fgsglobal.com
Notes:
1. Lucy Tilley will receive a payment in lieu of her contractual notice period and benefits under her service contract with Pollen Street, but there is no other remuneration payment or payment for loss of office in connection with her departure. This will be confirmed on the Company's website in accordance with section 430(2B) of the Companies Act 2006.
About Pollen Street Group Limited
Pollen Street is an alternative asset manager dedicated to investing within the financial and business services sectors across both Private Equity and Private Credit strategies. The business was founded in 2013 and has consistently delivered top tier returns alongside growing AuM.
Pollen Street benefits from a complementary set of asset management activities focused on managing third-party AuM (the "Asset Manager") together with on-balance sheet investments (the "Investment Company").
The Asset Manager raises capital from high quality investors and deploys it into its Private Equity and Private Credit strategies. The strong recurring revenues from this business enable delivery of scalable growth.
The Investment Company invests in the strategies of the group delivering attractive risk adjusted returns and accelerating growth in third-party AuM of the Asset Manager through investing in Pollen Street funds, taking advantage of attractive investment opportunities and aligning interest with our investors to grow AuM. Today the portfolio is largely invested in credit assets with the allocation to Private Equity expect to increase to 30 per cent in the long term. The portfolio consists of both direct investments and investments in funds managed by Pollen Street.
POLN is listed on the London Stock Exchange (ticker symbol: POLN). Further details are available at www.pollenstreetgroup.com.
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