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ICG closes recovery fund on €843m

Francinia Protti-Alvarez
13 April 2010

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London-based alternative asset investor Intermediate Capital Group (ICG), has reached the final closing of its тЌ843m ICG Recovery Fund.

The Fund attracted a significant number of new third-party investors to ICG - notably from the US, Asia and the Middle East.

The vehicle focuses on recapitalising balance sheets of strong but over leveraged European mid-market companies that are seeking to de-lever and invest in growth. Approximately 30% of the Fund has already been invested.

Along with ICG PLC's co-investment and its third-party funds, ICG now has approximately €1.5bn to invest in European recovery opportunities.

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