ICG holds first close for Europe fund VI on €2.5bn target

ICG stated it anticipated additional closes for the debt vehicle, which has a hard-cap of €3bn, in the coming months.

The fund's predecessor held its final close in December 2012 on its hard-cap of €2.5bn.

In April 2014, ICG closed its Senior Debt Partners I fund on €1.7bn, comfortably surpassing its initial target of €1bn.

Investments
ICG Europe Fund VI will make non-sector specific investments including leveraged buyouts, mezzanine and refinancings for European mid-market companies.

Investors
ICG itself committed €500m to the vehicle, with the remainder coming from external investors. As with its predecessor, capital commitments to ICG Europe VI to date have come from a global investor base. The alternative lender's fifth fund received commitments from LPs including sovereign wealth funds, pension funds and insurance companies.

People
Benoît Durteste is managing director and head of European investments at ICG.

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