Gender Pay Gap

ICG is disclosing its gender pay gap information in line with UK regulation at 5^th April 2024.

Gender pay gap at 5 April 2024

UK entity: Intermediate Capital Group plc

Pay Gap		% of Employees Receiving a Bonus		Bonus Pay Gap
Mean	Median	Male	Female	Mean	Median
30.3%	24.3%	77.0%	75.6%	70.2%	59.8%

Mean hourly pay gap

2020	2021	2022	2023	2024
26.2%	30.9%	35.7%	34.4%	30.3%

Mean bonus pay gap

2020	2021	2022	2023	2024
66.6%	68.8%	77.2%	74.3%	70.2%

Hourly pay and bonus gaps

Both the pay and bonus gaps have decreased during the financial year as shown in the table above.

There has been an increase in the share of women across the Group, however, we note that given our relatively small headcount, small year-on-year changes in headcount particularly at senior levels can have a significant impact on our gender pay gap.

We also note that the vast majority of high-paying awards are highly deferred in the form of Deferred Share Awards (DSA), PLC Equity Awards and Deal Vintage Bonus (DVB). Therefore, our year-on-year gender pay gap comparison can change significantly as a function of long-term incentives granted several years ago and only being paid out now. As a result, whilst the underlying make-up of the firm continues to evolve towards greater balance, this is not necessarily reflected in the gender pay gap.

ICG's commitment to addressing our gender pay gap

What are we doing about our gender pay gap?

We are progressing a number of initiatives to support our aims to improve the gender balance at all levels of the organisation and impact our gender pay gap. Several of these initiatives are now well established.

Showing our commitment

As part of our UK Women in Finance Charter commitments, we are continuing to commit to meet/exceed 30% women in UK senior management by 2027. We reached 36.3% as at 31 March 2024. Diversity, equity and inclusion (DEI) is also included as a measure of leadership success and features as a key performance indicator (KPI) for our Executive Directors.

Recruiting and retaining diverse talent

Inclusive Recruitment training and guidance is available to anyone involved in hiring. It focuses on fostering objective, fair and inclusive recruitment through consistently applied best practice at all stages: from job description to making hiring decision.

We continue to work with external recruitment partners to extend the reach of our search and selection activities to bring in the best talent regardless of demographic or background. We work with executive search firms that are signatories to the standard voluntary code of conduct for executive search firms.

We request a diverse candidate shortlists for all roles and encourage diversity on our interview panels.

Our early careers programmes focus on enhancing access to our industry from under-represented groups.

Our Women’s Development Programme is in place for high potential mid- to senior-level women and includes mentoring to help develop expertise, address areas of interests, improve connectivity to our business strategy and people from different backgrounds.

Our Women’s Network aims to advocate for and influence change to achieve gender equity. It encourages the development of fulfilling careers for women at ICG and facilitates inclusive relationships to ensure that women feel supported across the business.

Colleagues can participate in a number of industry initiatives, including 100 Women in Finance, a global initiative to increase the pool of talented women in our sector. ICG is a sponsor and active participant in Level 20, which provides mentoring and development support to women in investment positions. We also sponsor Private Equity International’s Women in Private Markets Summit.

We proactively engage with employees through our annual employee pulse survey and review the insights by gender to understand opportunities for improvement.

Fostering a culture of inclusivity

We are focused on creating a culture in which our colleagues are able to fulfil their individual potential as well as contribute to our collective goals.

We have a range of resources to create greater awareness of cultural considerations in how we manage our talent. An example of this is our Leadership Attributes framework, which includes role modelling inclusive behaviours.

Learning around inclusive environments is also provided at different levels. All new joiners are given an opportunity to explore what an inclusive culture looks like in practice and the role everyone has in maintaining and enhancing it. This is done through facilitated discussions in our Conscious Inclusion workshops which are part of our onboarding programme. Our People Manager Programme, ‘Managing for Results’, is designed to drive confidence in managing people from different backgrounds. Our ‘Leading for Impact’ programme for senior leaders has inclusion principles embedded throughout the content.

We have introduced policies to enable more employees to balance their work and family lives, including family building, carers leave, menopause leave and pregnancy loss policies.

We recognise that a sense of community and wellbeing at work are integral contributing factors to the success of ICG. Our employee networks contribute significantly to the employee experience at ICG, underpinning our inclusive culture. They are global, employee-led and bring people together who share identities, interests and ambitions for personal development and progress on inclusion. In addition to our Women’s Network, we have networks covering ethnicity, LGBTQ+, next generation, family, carers, disability, sport and wellbeing who also collaborate on topics of common interest.

We are committed to working together to make ICG a more diverse and inclusive organisation that we can all be proud of. More information, including on our policies, employee initiatives and networks can be found within the our DEI section.

We recognise that some of these actions may mean that our gender pay gap numbers fluctuate even as more women take on roles across the organisation, but our goal is to ensure that we achieve sustainable progress to our diverse representation over the longer-term.

We confirm that all the information we have disclosed is accurate and our statistics have been calculated according to the requirements of The Equality Act 2010 (Gender Pay Gap Information) Regulations 2017. Figures reviewed and verified by Willis Towers Watson.

Benoît Durteste
Chief Investment Officer and Chief Executive Officer, ICG plc