Intermediate Capital has £1bn present on its assess sheet for new investments. Chairman John Manser said that in the frame of the deteriorating trade outlook, the unit would be "particularly vigilant in monitoring and managing our existing portfolio, and quite demanding in choosing new investments". Intermediate Capital, which provides mezzanine subvene for buyouts, posted gains on investments of £135m in the year to March, down 31pc on the erstwhile year. But pith profit - which measures return scrutiny income along with fees from pool management - surged 22pc to £136m.
Mr Attwood said the creditation seethe had been destined to burst, "as reliability disciplines across almost all markets were bypassed in elect of allowance book growth at almost any cost". The group's results buoyed investors, who yesterday pushed Intermediate shares 146p higher to £16.10.
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