ICG Strategic Equity Closes Record $11bn Fund
Funding | Mar 03, 2025 | Intermediate Capital Group (ICG)
Intermediate Capital Group (ICG) successfully closed its fifth GP-led secondaries fund, ICG Strategic Equity Fund V, achieving a record-breaking $11bn in capital commitments, significantly surpassing its original target of $6bn. This milestone demonstrates the strong investor interest and highlights ICG's distinguished GP-led secondaries strategy. The fund, ICGSE V, attracted a diverse range of investors, including sovereign wealth funds, pension funds, and insurance companies, and aims to continue partnering with leading private equity sponsors. The success of ICGSE V reinforces ICG's market leadership in the secondary space and its ability to scale investment strategies that deliver substantial value for investors while offering liquidity options to Limited Partners.
Sectors
- Private Equity and Venture Capital
- Financial Services
Geography
- United Kingdom – ICG is listed on the London Stock Exchange and is a member of the FTSE 100, indicating its UK base and significant influence in financial services.
- North America and Western Europe – ICGSE V targets investments in high-quality companies across North America and Western Europe.
Industry
- Private Equity and Venture Capital – The article discusses activities of Intermediate Capital Group (ICG), highlighting their strategies in the GP-led secondaries market, a key aspect of private equity investment.
- Financial Services – Involves capital fundraising and investment strategies executed by ICG, an alternative asset manager participating in financial markets.
Financials
- $11 billion – The total capital commitments raised by ICG Strategic Equity Fund V, more than doubling its previous fund.
- $1.1 billion – Fee-eligible commitments closed since 31 December 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Intermediate Capital Group (ICG) | Alternative Asset Manager | Company | A global leader in alternative asset management, providing flexible capital solutions and listed on the London Stock Exchange. |
| ICG Strategic Equity | Fund Manager | Company | A division of ICG focusing on GP-led secondaries with substantial investment in this market since 2014. |
| Ricardo Lombardi | Global Head of ICG Strategic Equity | Person | Responsible for leading the GP-led secondaries strategy at ICG. |
| Benot Durteste | CIO and CEO of ICG | Person | Oversees ICG's investment strategies and corporate leadership. |