The Goodwin Private Investment Funds team advised Intermediate Capital Group on the structuring and fundraising of its second European Mid-Market fund programme. ICG Europe Mid-Market Fund II (the "Fund") held a successful final closing at its hard cap, with €3 billion raised in aggregate including related vehicles. This represents a 300% increase compared to the prior fund vintage, ICG Europe Mid-Market Fund I which closed on €1 billion in 2019.
ICG's European Mid-Market funds are part of ICG's flagship European Corporate strategy, targeting locally sourced, directly originated and privately negotiated subordinated debt and equity investments. Focused on mid-sized companies, the Fund aims to provide flexible and tailored solutions to support founders and management teams in realising long-term value creation.
ICG provides flexible capital solutions to help companies develop and grow. They are a leading global alternative asset manager with over 30 years' history, managing US$ 71 billion of assets and investing across the capital structure. ICG operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.
The team was led by Ravi Chopra with support from Natacha Öz and Thomas Howard (London Funds), Oana Millich, Florian Brandelong, Jessica Laglasse, Jules Oger-Vilcocq and Thomas Larasse (Luxembourg Funds), and Charlotte Haywood, Matthew Birchall and Matthew Rees (London Tax).
ICG's in-house legal team commented: 'We thank the Goodwin team for the seamless manner in which they helped to close investors across the fundraising. We were impressed with the team's hard work, organisation and efficiency and look forward to working with them again in the future.'
For more information on the closing of the Fund, please read ICG's press release.