Intermediate Capital Group (“ICG”), the global alternative asset manager, today announced that it has completed fundraising for its debut Infrastructure fund, ICG Infrastructure Equity 1 (“ICG Infra”, or the “Fund”). The Fund reached total commitments of €1.5 billion, surpassing its target of €1 billion due to strong demand from a global client base. The Fund attracted commitments from over 40 clients across Europe, the UK, Australia, the US and Canada.
The Fund focuses on Western Europe and is pursuing a green generalist strategy aligned to UN Sustainable Development Goals . To date, the team has deployed €1bn across five deals, of which the Fund has committed €0.6bn and made €0.4bn available to clients as co-investment opportunities, illustrating its thesis of investing in sustainable infrastructure, such as renewables, energy efficiency, fibre optic networks, electric mobility, and social infrastructure.
The team, led by Guillaume d’Engremont, is comprised of a dozen infrastructure professionals across Paris, London and Frankfurt. The team benefits from a highly differentiated approach combining diverse backgrounds, strong technical expertise, long-standing local origination capabilities and is able to effectively leverage ICG’s flexible approach to partnering with portfolio companies and their management teams.
Benoît Durteste, CIO and CEO of ICG, commented:
It is a significant achievement for a first-time fund to receive such strong client demand and significantly exceed its target in a challenging macro-economic environment. The calibre and industry knowledge of the team, combined with ICG’s structuring expertise, is a clear differentiator, and we are delighted to bring such a compelling strategy to market.
Guillaume d’Engremont, Managing Director and Head of European Infrastructure, added:
We are incredibly proud to reach this milestone and are grateful for the confidence our clients have placed in us. We have a strong pipeline of opportunities ahead of us, and as we continue to focus on sustainable infrastructure, we are confident that we can continue to provide attractive long-term returns.
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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.