ICG said to raise world’s biggest GP secondaries fund after beating $5bn goal

Intermediate Capital Group has reportedly raised more than $5bn for the final close of what is believed to be the biggest-ever fund targeting GP-led secondaries deals. Big investors in the ICG Strategic Equity IV raise included CalSTRS, which committed $250m, Fubon Life Insurance and the New York City Employees’ Retirement System, Secondaries Investor reported. Never …