Intermediate Capital Group announces launch of Asian mezzanine fund

ICG is in the initial stages of fundraising for its first Asian mezzanine fund, ICG Asian-Pacific Mezzanine Fund. Launched with a target of US $150m, the fund is primarily targeting investors from Japan, South Korea and Australia with the intention of opening it up to more ‘traditional’ US and European investors shortly. Although it is too early to say when the fund will hold a first close, Tom Attwood of ICG reports that the initial reaction to the vehicle amongst investors has been enthusiastic. ICG opened an office in Hong Kong in September last year. The fund will be managed by Christoph Evaine and Piers Miller, based in Hong Kong, who are making further recruitments to the team locally.

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