ICG hires fundraiser in Asia

The UK-based mezzanine firm has added Nyree Hu to its Hong Kong team.

Mezzanine debt firm Intermediate Capital Group has hired Nyree Hu in Hong Kong to focus on pan-Asian fund distribution for the firm’s global vehicles, according to a company statement. 

Hu has already started at the firm but was unavailable for comment due to travelling commitments in Europe. She joins from global multi-asset management company CQS where she was director of marketing.

ICG now has an 11-strong fundraising team, led by Andreas Mondovits, head of ICG’s marketing and client relationships team based in London. The team raises capital from North American, EMEA and Asia Pacific. 

“A third of investors in ICG’s latest mezzanine fund are from Asia, underlining the importance of our growing investor base across the region. Nyree brings a wealth of strong relationships and a deep understanding of the issues and considerations which are important to the region,” Christophe Evain, chief executive of ICG, said in a statement.  

The firm’s latest mezzanine fund is a Europe-focused vehicle with a 2011 vintage, which closed on its €2.5 billion hard cap in January this year, having increased its LP base in both the US and Asia, the firm said earlier. Its predecessor, ICG Fund IV, had more than 80 percent of its investors from Europe, compared to just a third in Fund V. 

Given ICG’s significant contributions in Asia, the firm in March opened its third Asia office in Singapore, adding to existing locations in Hong Kong and Sydney. 

Moreover, in January, the firm also hired the National Australia Bank’s Matthew Turner to lead its new Australia-focused senior loans business, Private Equity International reported earlier. 

Founded in 1989, Intermediate Capital Group (ICG) is a London-based investment firm that provides mezzanine debt financing to companies throughout North America, Europe, and Asia. As of August 2013, ICG had also raised €391 million towards a €1 billion target for its ICG Senior Debt Partners fund. The fund will provide senior secured loans to mid-market corporate borrowers principally in the UK, France and Germany.