ICG hires two, loses two to Highbridge

Intermediate Capital Group, the credit specialist and asset manager, announced that it has hired Michael Curtis and Benjamin Edgar as portfolio managers and co-heads of its European loans platform.

Intermediate Capital Group (ICG), the credit specialist and asset manager, announced that it has hired Michael Curtis and Benjamin Edgar as portfolio managers and co-heads of its European loans platform. 

Curtis joins from 3i Debt Management while Edgar joins from CVC Credit Partners. 

The announcement follows the news last week that ICG credit portfolio managers, Nick Strong and Simon Peatfield, are set to leave ICG. The pair have been hired by Highbridge Capital Management to establish a collateralised loan obligation platform, a source close to the situation confirmed to PDI. The news was first reported by the Wall Street Journal

Strong and Peatfield only recently resigned from ICG and the new co-head appointments announced today were in place before the resignations, PDI understands.

At 3i Debt Management, Curtis was a portfolio manager across CLO funds, separate accounts and the firm’s global income fund. He has also run his own debt advisory firm, South Square Capital as well as doing a stint at Alpstar Capital. 

Edgar was a managing director responsible for credit funds and CLOs at CVC. He has also worked at Alcentra and Deutsche Bank. 

“We are delighted to have attracted two new exceptional hires to join ICG’s Credit Fund Management Team and lead our European loans businesses. Both Michael and Benjamin have excellent credentials and very strong investment track records; they will contribute solidly to strengthening and growing ICG’s European loans business,” said head of credit fund management, Dagmar Kent Kershaw. 

Strong joined ICG in September 2013 and was a portfolio manager within the credit fund management team. Peatfield was a director and portfolio manager within the same team and joined ICG in 2008. 

London-headquartered ICG manages credit funds specialising in senior loans, high yield bonds and structured credit with a total of €7.6 billion of third party funds under management, as of 31 March 2015.