ICG, the global alternative asset manager, today announced that its Asia Pacific Fund IV (the “Fund”) has closed at $1.1 billion, exceeding its target of $1bn, and increasing in size by 60% from the last vintage. The Fund has received support from a broad and international group of investors looking for exposure to Asia and is currently 32% deployed, with four deals completed to date.
The Fund represents ICG’s flagship strategy for Asia, with 20 years of track record in the region, focusing on locally sourced and directly originated mid-market companies in developed Asia. The team continues to pursue its highly differentiated investment approach of helping businesses and key stakeholders with bespoke and complex capital structures, with a focus on downside protection.
ICG has a strong presence in the Asia Pacific region, providing flexible capital solutions to mid-market businesses across Australia, New Zealand, Japan, South Korea, Hong Kong and SE Asia, with a focus on supporting entrepreneurial founders and management teams. Most recently, ICG announced an investment in Canopy Healthcare Group, a leading healthcare provider in the region, building on ICG’s significant healthcare experience in the region, following investments in Everlight Radiology and Cura Day hospitals.
Benoît Durteste, CIO and CEO of ICG, commented:
It is a significant achievement to exceed our target for Asia Pacific Fund IV and reach $1.1 billion. The calibre and industry knowledge of the team means that we are better positioned than ever to tap into attractive investment opportunities across the region.
Wooseok Jun, Head of Asia Pacific Corporate, at ICG, added:
“We are delighted to have surpassed the target for our fourth vintage, with strong demand from both new and existing investors. We are incredibly grateful for the trust and confidence our repeat investors and new investors have placed in the strategy, and we will continue to source attractive opportunities to create value.”
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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.