- 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:
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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.