Exclusive: ICG preps two fund launches

A new European mezz fund targeting around €2bn is expected to come to market soon, while a second direct lending fund is also being mooted.

London-based Intermediate Capital Group (ICG) is preparing to launch two new debt funds after investing capital at a “remarkable pace”, PDI has learnt.

The UK-listed investment manager is in the pre-marketing stage with a successor fund to ICG Europe Fund V, a mezzanine-focused fund, three people close to the situation said.