ICG hits €1.7bn hard cap for senior debt fund


euro8_170sqInvestment firm Intermediate Capital Group has closed its first Senior Debt Partners fund on its €1.75bn, far ahead of its €1bn target.

The fund held its first close in February 2013 and has so far invested 50 per cent across 14 deals in Germany, France, Luxembourg and the UK.

Senior Debt Partners I, which has a three year investment period, will focus on senior debt investments from across Europe.

The firm said that 40 per cent of the LPs are based in the UK and Ireland, 34 per cent in continental Europe, 23 per cent in Asia Pacific and the rest are from the US and Canada.

Pension funds accounted for 49 per cent of commitments to the new fund.

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