ICG, the global alternative asset manager, today announced the final close of its fifth GP-led secondaries fund programme, ICG Strategic Equity Fund V (“ICGSE V” or “the Fund”). ICGSE V, together with its related vehicles, received $11bn of capital commitments and was oversubscribed at its increased hard cap. The Fund materially surpassed its original $6bn target, and more than doubled its predecessor fund programme, ICGSE IV, which closed at $5.3bn in 2022.
Since its inception in 2014, ICG Strategic Equity has focused exclusively on the GP-led secondary market and has committed over $19bn to date. ICGSE V will continue its investment strategy of partnering with leading private equity sponsors to invest in single asset continuation vehicles for high-quality companies in North America and Western Europe.
ICGSE V attracted a globally diverse group of investors including sovereign wealth funds, pension funds, insurance companies, asset managers, foundations, family offices and high net worth individuals.
Ricardo Lombardi, Global Head of ICG Strategic Equity, said:
We are grateful for the continued support of our investors, colleagues, and partners. The final close for the Fund marks a milestone for ICG Strategic Equity and demonstrates the continued investor interest in our highly differentiated GP-led secondaries strategy. The scale achieved with ICGSE V will further enhance our ability to be a trusted and reliable partner for PE sponsors who wish to hold on to their most attractive assets for longer, while delivering a liquidity option to their LPs.
Benoît Durteste, CIO and CEO of ICG, added:
The successful close of ICGSE V at $11bn, more than double its predecessor vintage and including over $4bn from investors new to the strategy, was underpinned by ICG Strategic Equity’s pioneering approach and market leadership position in the GP-led secondaries space. ICG Strategic Equity’s success evidences ICG’s ability to develop and scale market-leading investment strategies that create significant value for our investors. Along with the growth we are experiencing in our LP Secondaries business, this further cements ICG’s position as a leading player in the growing secondaries space.
Note: since 31 December 2024 the Fund has closed fee-eligible commitments totalling $1.1bn.
– ENDS –
For further information please contact
Clare Glynn
Head of Corporate Communications
Maisie Le Masurier
Corporate Communications
About ICG
ICG provides flexible capital solutions to help companies develop and grow. We are a leading global alternative asset manager with over 35 years’ history, managing $107bn of assets* and investing across the capital structure.
ICG is a member of the FTSE 100 and listed on the London Stock Exchange (ticker symbol: ICG). Further details are available at www.icgam.com. You can follow ICG on LinkedIn and Instagram.
*Past performance is not a reliable indicator of future results; as at 31 December 2024.
Subscribe to our newsletters
Sign up for Regulatory News updates: click here
