ICG Seeks $8.5bn for Eighth European Debt Fund

Multi-strategy asset manager Intermediate Capital Group is looking to raise about $8.50bn for its latest flagship debt strategy, according to a document presented to a Louisiana pension system.

The multi-strategy asset manager invests in mid-market businesses mainly in Western Europe. If the London firm’s fundraising drive hits its target, its ICG Europe Fund VIII SCSp will be more than 55% larger than its roughly $5.5bn predecessor, which closed in 2018, according to the document presented last week to Teachers’ Retirement System of Louisiana. 

ICG specialise in private debt, equity and credit, providing financing solutions across the capital structure, and pioneering new strategies to deliver value to their investors. As direct PE investors, ICG conduct intensive portfolio and asset underwriting to determine likely future values, timing, and paths to liquidity, as well as exercising meaningful governance over the portfolios post transaction. They are prepared to invest additional capital to enhance a portfolio’s future value.

Source: Wall Street Journal