We now have over 20 locations worldwide, but our third office, and first outside of Europe, opened 25 years ago in Hong Kong. This makes us one of the longest-established global alternative asset managers in Asia Pacific.
Combining global perspective with on-the-ground expertise
25 years on, we have built a truly pan-regional business in Asia Pacific, with investment professionals based not only in Hong Kong, but also in Singapore, Tokyo, Seoul and Sydney, enabling deep local access across Northeast Asia, Southeast Asia and Australasia.
Our regional teams are firmly integrated into ICG’s global ecosystem, yet remain deeply rooted in local markets, where they have forged strong relationships and maintained a presence through market cycles.
Home to three distinct investment strategies
We have three investment strategies run from the region: Structured Capital: APAC, Asia-Pacific Infrastructure and Australian Senior Debt.
Structured Capital: APAC
Structured Capital: APAC (formerly Asia-Pacific Corporate) is ICG’s oldest and largest strategy in Asia Pacific with a track record spanning more than 20 years. It is the regional counterpart to ICG’s flagship Structured Capital: Europe strategy, a first mover in the capital solutions space with a track record spanning approximately four decades.
The strategy targets locally sourced, directly originated and privately negotiated investments in mid-market companies across developed Asia. Investing across the capital structure through a bespoke, multi-layered approach, the team places strong emphasis on downside protection while maintaining upside exposure via careful transaction structuring.
Asia-Pacific Infrastructure
Launched in 2022, Asia-Pacific Infrastructure is a mid-market strategy providing growth capital to renewable energy and energy transition businesses across developed APAC markets, with a focus on solar, onshore wind and battery storage. The strategy sits within ICG’s wider infrastructure platform, which manages over $6bn in assets across Asia and Europe, giving the team access to broader sector expertise and operational capabilities.
Asia Pacific continues to benefit from strong economic growth, rising energy demand and a structural shift towards cleaner power. These long-term trends are creating significant investment needs and opportunities to support high-quality local platforms as they scale. The team adopts a structured equity approach, partnering actively with founders and management teams in markets supported by favourable policy frameworks and strong fundamentals.
Australian Senior Debt
With a track record spanning more than two decades, Australian Senior Debt invests in corporate credit opportunities across Australia and New Zealand, primarily through senior secured loans financing acquisitions by domestic and international private equity firms. The strategy has a strong focus on leveraged buyouts, while also providing financing for organic and acquisitive growth and refinancings.
The team focuses on established corporate borrowers with strong market positions – characteristics that can support resilience through periods of economic uncertainty and create an attractive environment for credit investing.
Access through relationships
In Asia Pacific, the majority of private capital opportunities are sourced through direct relationships rather than intermediated processes, making local presence essential. This is particularly true in the region’s mid-market, a long-standing focus for ICG, where around 85% of companies are family owned, tending to choose their partner directly, rather than initiating an organised competitive sale process. This calls for teams on the ground who understand each market’s culture and practices, and who possess a genuine grasp of the owner’s history, values and long-term ambitions for the business.
Our relationships are built over years, not months. Our teams invest in developing trusted networks across industry ecosystems. Opportunities are sourced through a variety of channels, including entrepreneurs and management teams we have partnered with previously, corporate advisers and our own proprietary market mapping.
This approach helps us access differentiated opportunities that would otherwise be hard to reach. By building trust and credibility over time, we’ve become a partner of choice, working with business owners, founders and management teams in a creative and solutions-focused approach, providing both expertise and flexible capital.
Building for the next 25 years
Asia Pacific continues to offer a favourable macroeconomic backdrop, with its scale and growth creating compelling opportunities.
Expected to account for approaching half of global GDP, the region is forecast to outperform other major economies, while its rapidly growing middle-class population is supporting the rise of higher value-added businesses. Private debt markets have also expanded significantly but remain underpenetrated relative to developed Asia’s share of global private equity activity, presenting a significant funding opportunity. These are structural, rather than short-term, trends that align well with ICG’s investment approach and underpin our long-term commitment to the region.
Go deeper
- Read ICG CIO and CEO Benoît Durteste’s exclusive interview with L’AGEFI, where he discusses Asia’s opportunity set, among other topics
- Discover how our Asia-Pacific Infrastructure team is investing in Japan through partnerships with Hanwha Energy and Ray8 Energy
- Meet Sujey Subramanian, who joined ICG this year as Head of Structured Capital: APAC
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