Wendel said management fees and other revenues at its investment platform rose 10% on a comparable basis in the first nine months of 2026, as the French group outlined plans for proceeds from asset sales. The proposed sale of its stake in IHS Towers remains subject to approvals and other closing conditions.
The company’s fully diluted net asset value reached €167.0 per share at Sept. 30, up 5.1% from June 30. Wendel said higher market valuations accounted for most of the quarterly gain, while share repurchases contributed €0.50 per share. Its year-to-date increase was 3.9% after including the €3.60-per-share dividend paid in May.
Wendel Investment Managers generated €344 million in management fees and other revenues, 41.3% more than in the year-earlier period. The reported growth reflected Monroe Capital’s contribution for all nine months, compared with a partial contribution a year earlier, as well as the consolidation of Committed Advisors from April. The total also includes €13.9 million Wendel paid IK Partners for year-to-date advice on WPI’s unlisted assets.
The platform had €48.7 billion in assets under management, of which €37.7 billion was fee-paying. Fee-paying assets increased 9% over 12 months and 5% since the start of the year. Wendel said fundraising exceeded €3 billion in the period, including $2 billion for Monroe Capital and €1.3 billion for Committed Advisors. It put year-to-date net equity outflows at Monroe Capital Income Plus, a nonlisted business development company, at $170 million after accounting for subscriptions and redemption requests. Redemption requests were lower in the third quarter than in the second.
Wendel received about €1.14 billion after debt and transaction costs from selling Stahl, excluding Muno, to Henkel; the deal closed Oct. 1. The company expects about $535 million net from the planned sale of its roughly 19% IHS Towers stake to MTN Group. Wendel estimates the two disposals could bring in about €1.6 billion combined, which it plans to use for private-asset investments, platform development and shareholder returns.
After the Stahl closing, Wendel reported €1.5 billion in available cash and €1.4 billion in gross bond debt, alongside an unused €875 million syndicated credit facility. The company completed its €310 million buyback program, representing 9% of its capital, on July 27. An interim dividend of €2.55 per share is scheduled for Nov. 19, followed by an Investor Day on Dec. 2.
