- ICG Europe VIII significantly exceeds €7.0bn target and surpasses original hard cap
ICG, the global alternative asset manager, today announced that it has completed fundraising for its eighth European Corporate fund (“the Fund” or “Europe VIII”). The Fund held a final close with a total fund size of €8.1bn, materially in excess of the target of €7.0 billion and exceeding its hard cap, as well as representing a 90% increase in client capital compared to its predecessor vintage, Europe VII.
The Fund attracted commitments from over 100 clients, including 33 new clients across Europe, Asia, the Middle East and the US, incorporating a range of investors, such as large public pension schemes, institutional clients and insurance firms.
European Corporate is one of ICG’s flagship strategies, providing flexible capital solutions to companies across Europe. With a 33-year track record, the strategy has invested over €27bn across more than 400 transactions. Today the team comprises investment professionals across seven European offices, leveraging ICG’s local origination network and institutional capabilities in digital enhancement, ESG and value creation.
In line with ICG’s firmwide commitment to achieving net zero by 2040, and Europe VIII’s enhanced ESG framework, we are actively implementing validated science-based targets within all relevant portfolio companies to reduce greenhouse gas emissions.
Benoît Durteste, CIO and CEO of ICG, commented:
We are immensely proud of the strong endorsement from our existing and new clients which has enabled this highly successful fundraise.
The highly bespoke and flexible investment approach of this strategy makes it a unique proposition in the European corporate investment landscape. A real expertise in highly structured transactions with strong downside protection has demonstrated its benefits with decades of exceptional and consistent performance.
This strategy has historically done particularly well in periods of greater volatility and this successful fundraising provides us with the dry powder to fully take advantage of the opportunities arising from the current market environment.
For further information please contact:
ICG
Clare Glynn
Tel: +44 (0)20 3545 2000
[email protected]
About ICG
ICG provides flexible capital solutions to help companies develop and grow. We are a leading global alternative asset manager with over 30 years’ history, managing $71bn of assets and investing across the capital structure. We operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.
We develop long-term relationships with our business partners to deliver value for shareholders, clients and employees, and use our position of influence to benefit the environment and society. We are committed to being a net zero asset manager across our operations and relevant investments by 2040.
ICG is listed on the London Stock Exchange (ticker symbol: ICP). Further details are available at www.icgam.com. You can follow ICG on LinkedIn and Twitter.
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