Foresight Group (FSG) Q2 2027 TU earnings summary

Executive summary

• Strategic focus sharpened on Real Assets and Private Equity following the 4 September 2026 sale of the public markets division.

• Investor demand and portfolio realisations supported fundraising and performance fees; core EBITDA pre-SBP is expected to grow YoY in H1 FY27.

Financial highlights

• £224 million raised into higher-margin retail vehicles, versus £223 million in H1 FY26; fundraising is on track for another record year.

• Private Equity realisations totalled £42 million at a 4.2x average MOIC; performance fees were ahead of H1 FY26’s £4.7 million.

• H1 FY27 core EBITDA pre-SBP is expected to show YoY growth versus reported H1 FY26 EBITDA of £30.6 million.

Outlook and guidance

• Recurring revenue is expected within the 85–90% target range; retail fundraising has a strong H2 pipeline.

• FEIP II fundraising is expected to progress beyond €595 million raised to date, supported by a maturing FEIP I portfolio.

• New product development includes targeting Private Equity defence and Real Assets secondaries opportunities.