M&G’s private markets assets under management and administration (AUMA) grew to £77bn in the first half of 2025, up from £74bn in 2024, as it broadens its offering.
Private and structured credit accounted for £25bn of private assets AUMA, behind real estate at £33bn, according to the asset manager’s 2025 half-year results, in which it stated that private markets “remain a key priority”.
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The results showed that private and structured credit AUMA has increased from 2024, when AUMA totalled £20bn, while real estate AUMA is down, compared to £34bn last year.
M&G said that its “broadening” private market offering has a capital queue of £6.5bn, with £2.7bn of this in private and structured credit, and £2.3bn attached to real estate.
Impact and private equity AUMA totalled £13bn in the first half of 2025, compared to £15bn in 2024, and with a capital queue of £1.3bn.
Infrastructure AUMA remained flat, at £6bn, with £0.2bn in a capital queue.
Despite the growth in private markets AUMA in the first half of the year, M&G reported adjusted operating profit of £206m, one per cent lower than the same period a year ago.
Overall, adjusted operating profit for the six months to end of June 2025 was £378m, up from £375m at the end of June 2024, which M&G attributed to “underlying positive momentum”.
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The asset manager also reported £2.1bn in net flows from open business, which is a £3.2bn improvement from the same period last year.
Andrea Rossi, M&G’s group chief executive, called it “a strong result underpinned by £2.6bn net inflows from external clients in asset management”.
“This growth has been supported by our market leading investment performance and continued international expansion,” Rossi added.
“Today, 58 per cent of our asset management third party AUMA comes from international clients, up from 37 per cent five years ago. This cements our position as a leading international active asset manager, with an established footprint in Europe and growing access to attractive Asian markets.”
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