ICG has raised $1.9bn (£1.43bn) for the third iteration of its North American non-public debt technique.
This represents a 50 per cent enhance in comparison with its predecessor fund. The North American Credit score Companions Fund III (NACP III) is already partially deployed, with 4 offers accomplished so far.
Like its predecessors, the fund will present non-public debt capital options for each non-public equity-sponsored and unbiased company debtors in North America, sometimes investing in companies with between $25m and $250m of EBITDA.
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“We’re delighted to have held the ultimate shut for NACP III at $1.9bn,” stated Brian Spenner, head of North American credit score at ICG.
“The sizeable enhance in consumer commitments in comparison with the previous fund is a testomony to the confirmed nature of the technique and the urge for food amongst each new and long-standing ICG shoppers for differentiated credit score funds.
“We stay up for persevering with our funding program and offering capital options for personal fairness sponsors and company debtors.”
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Spenner will handle the fund alongside along with his senior funding crew, who’ve a median of 20 years of personal debt funding expertise.
“This can be a important milestone for the crew, reflecting the monitor report established – amongst each shoppers and company debtors – within the decade for the reason that technique’s inception,” stated Benoît Durteste, chief government of ICG.
“This profitable fundraise permits us to capitalize on enticing funding alternatives, and additional reinforces our presence in North America, a key development space for ICG.”
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