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Laxman Pai, Opalesque Asia: Global alternative asset manager Intermediate Capital Group has almost doubled its predecessor to close its eighth European Corporate fund on €8.1bn ($8.25bn).
According to a press release from the London-based private equity investment firm, Europe VIII significantly beats its €7bn ($7.13bn) target and exceeded its hard cap. It is also 90% bigger than 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," the release said.
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, it said.
"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," said the release.
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.
Benoit Durteste, CIO and CEO of ICG, said: We are immensely proud of the strong endorsement from our existing and...................... To view our full article Click here
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