Phoenix Group, the UK’s largest long-term savings and retirement business, announces that it has invested £111m in IP Group by way of long maturity private loan notes. IP Group develops world-changing science and technology businesses across life sciences and technology.

IP Group pioneered the concept of the long-term partnership model with UK universities and has spent many years working on a unique approach to building businesses and providing support along the journey from start-up to maturity. This is IP Group’s debut private placement.

The financing will be used for investments including in Cleantech and other sustainable assets linked to the United Nations Sustainable Development Goals.

With access to the best Intellectual Property and ideas from its networks, universities and research institutes, IP Group has built a 20-year track record of double-digit growth supporting 400 companies including three unicorns. Its permanent capital structure, complemented by a modest amount of debt, allows the Company to commit to long-term support and capitalise on its deep technical and business-building expertise in high growth science & technology.

Jeremy Dunton, Senior Investment Manager, Private Credit, Phoenix Asset Management, said:

“We are delighted to support IP Group in the further expansion of its portfolio of impactful, science-based innovations. Phoenix Group actively looks to support sustainable businesses through our private debt portfolio, and our asset management team works with first time issuers to develop flexible financing solutions. This transaction further demonstrates our ability to support companies like IP Group, in developing pioneering solutions in climate action, healthcare and nano-technology which will provide us all with a better future.”

David Baynes, Chief Financial and Operating Officer of IP Group plc, commented:

“We’re delighted to be working with Phoenix who share our vision for a cleaner, healthier and tech-enriched future and we look forward to a productive long-term partnership.”

Enquiries

Dilesh Sangaran
PR Manager
Phoenix Group
07974 604 323
dilesh.sangaran@thephoenixgroup.com