ICG

About ICG

ICG is a London-listed global alternative asset manager with approximately $120 billion of assets under management as of December 2024, headquartered in London and a FTSE 100 constituent (LSE: ICG). The firm was founded in 1989 on the principles of flexible investment solutions, specialist experience and local knowledge, originally as Intermediate Capital Group before rebranding to ICG at its July 2025 AGM. The platform operates from more than 20 locations including 12 European offices, North America, Asia-Pacific and the Middle East, with approximately 686 permanent employees as of March 2025.

Investment thesis

ICG deploys capital across more than 30 active strategies and successor funds spanning structured capital, private equity secondaries, private debt, credit (asset-backed finance, syndicated loans, multi-asset credit) and real assets (infrastructure, real estate). The platform's flexible capital approach enables deployment across the capital stack including equity, mezzanine, structured equity and senior debt, supporting sponsor-led buyouts, growth equity transactions and corporate financing solutions. Sector deployment is broadly diversified across services, healthcare, technology, industrials, consumer and infrastructure verticals. Recent flagship vintages include ICG Europe Mid-Market II (€3 billion, 2025) and ICG Infrastructure Equity II (€3.15 billion, 2025).

Recent activity

Recent realised exits include realisations across education (2025) and infrastructure (2025), with software cycle realisations continuing across 2023-2024 and industrials exits in 2024. Recent acquisitions include Excellera Advisory Group (healthcare communications, 2025), with active mid-market platform deployment continuing through ICG Europe Mid-Market II during 2025. The platform tracks more than 30 active strategies with continued fundraising momentum across credit, infrastructure and mid-market private equity.

Frequently asked questions

What investment strategy does ICG focus on?

ICG focuses on Buyout, Growth strategies in the private equity space.

How many portfolio companies does ICG have?

ICG has 35 active portfolio companies and 7 completed exits and 7 funds tracked on GP Intel.

Where is ICG headquartered?

ICG is headquartered in London, United Kingdom.

What is ICG's assets under management?

ICG manages approximately €103.0B in assets under management.

When was ICG founded?

ICG was founded in 1989.

What sectors does ICG invest in?

ICG invests across Healthcare, Industrials, Business Services, TMT.

What are ICG's recent exits?

Recent realized exits by ICG include: Akuo (2025) to Ardian; Minimax Viking (2025) to ICG continuation vehicle; Ocea Group (2024) to EQT; Oceinde Communications (2024) to Credit Agricole Assurances; DOC Generici (ICG) (2022) to TPG; Suanfarma (2021) to ArchiMed; Staci (2017) to Cobepa.