Intermediate Capital Group, the specialist asset manager, today announces that ICG Europe Fund VI, its European corporate investment fund, has raised €2.5 billion to date.
This includes a contribution from ICG’s balance sheet of €500 million, along with €2 billion of third party subscriptions. Further closes are anticipated in the coming months, towards the €3 billion hard cap.
The predecessor fund, ICG European Fund V, was closed in December 2012 at its hard cap of €2.5 billion, also including a subscription of €500 million from ICG’s balance sheet.
Benoît Durteste, Managing Director and Head of European Investments at ICG, commented:
This is a landmark for ICG and testimony to the strength our European strategy. Achieving our target fund size as early as the first close and ahead of schedule, confirms that we are both providing our investors with the level of high performance they expect and meeting a demand for our flexible investment approach from mid-market companies.
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