ICG has completed fundraising for the ninth vintage of its flagship European Corporate strategy, closing ICG Europe Fund IX at €12 billion, representing a 50% increase compared with predecessor ICG Europe VIII.
The fund represents what ICG described as the largest dedicated structured capital fund raised globally, reflecting strong investor demand for flexible capital solutions.
Existing investors committed approximately €5.9 billion, representing a 77% re-up rate by commitment. The fund also attracted approximately 90 new limited partners, which collectively committed another €6.7 billion.
Although the vehicle was significantly oversubscribed, ICG accepted €12 billion rather than increasing the fund to its hard cap, allowing the strategy to remain selective in deploying capital. The fund was approximately 22% deployed across six investments at the time of the announcement.
European Corporate forms part of ICG’s Structured Capital platform, alongside its European Mid-Market and Asia Pacific Corporate strategies.
The strategy is designed to provide flexible capital to companies while targeting a risk-return profile that ICG says has produced a long-running record of investment performance.
KEY QUOTE:
“We are grateful to partner with a growing and sophisticated base of LPs on this highly differentiated strategy. Our clients have demonstrated significant conviction in our investment thesis and continued support for the flexible capital strategy we pioneered. This fundraise also reflects our disciplined investment approach, raising only what we believe can be deployed effectively to ensure continued investment excellence. We look forward to offering clients further opportunities to invest in ICG’s Structured Capital platform with complementary size and geographic focus.”
Benoît Durteste, CIO and CEO of ICG
