Foresight Group Holdings Limited, a sustainability-led infrastructure and private equity investment manager, has released a trading update for the six months ended 30 September 2023. The company reported that its core EBITDA pre-Share Based Payments (SBP) is expected to be 20-25% higher than the prior year period. This growth is attributed to successful fundraising, annualisation of acquisition activity, and cost discipline. Assets under Management (AUM) and Funds under Management (FUM) were £12.1 billion and £8.8 billion, respectively, slightly down from the previous period. However, on a constant currency basis, AUM remained stable at £12.2 billion, and FUM at £8.8 billion. The company raised £159 million into higher margin retail vehicles and achieved institutional fundraising success in its private equity division. Foresight Capital Management (FCM) AUM decreased by £350 million due to the impact of rising interest rates on the valuation of long duration infrastructure assets. The company maintained high-quality revenue visibility, with recurring revenue within the target range of 85-90%. Foresight Group also expanded its international reach by signing a new distribution partnership for the Nordic region and creating a specialist OEIC UK sales team focused on FCM products. Looking ahead, the company expects the market for institutional fundraising to improve in the first half of 2024. Foresight Group remains confident in its ability to achieve core EBITDA pre-SBP growth and its target AUM growth rate of 20-25% per annum on a rolling 3-year average basis.