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Laxman Pai, Opalesque Asia: Global alternative asset manager Intermediate Capital Group (ICG) has held the final close of its Asia Pacific Fund IV at $1.1 billion, exceeding its target of $1 billion.
Fund V, which is 60 percent larger than its predecessor fund, 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," said a press release from the private equity investment firm headquartered in London.
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, it said.
Benoit Durteste, CIO and CEO of ICG said: "It is a significant achievement to exceed our target for Asia Pacific Fund IV and reach $1.1 billion. The caliber and industry knowledge of the team means that we are better positioned than ever to tap into attractive investment opportunities across the region."
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 i...................... To view our full article Click here
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