ICG hires two to originate for €1bn mid-market fund

London-based fund manager Intermediate Capital Group has hired Peter Kirtley and Robin Molvin as managing directors to expand its mid-market origination capabilities.

The pair will work on the subordinated debt and equity team and support the deployment of €1 billion of capital raised for the first vintage of the ICG Mid-Market Fund.

Kirtley joins from Beechbrook Capital, where he spent four years leading equity and debt investments in UK corporates. Before joining Beechbrook, he spent six years as an investment director in the corporate restructuring division of Lloyds Banking Group. He has more than 20 years of experience, having begun his career as an equity research analyst for Investec in 1998.

Molvin joins from private equity firm Ratos, where he worked for 13 years, most recently as a vice-president. Before Ratos, he worked at Nordstjernan for six years with a focus on building its investment activities. He began his career in 1997 as an analyst at Alfred Berg in Stockholm.

Kirtley will be based in London while Molvin will be based in Stockholm. Both are understood to have joined ICG in August 2019.

ICG’s mid-market strategy is led by Gareth Knight and was launched last year as an adjacent approach to the firm’s European strategy, which closed its seventh vintage at €4.5 billion at the end of 2018.

Commenting on the hires, ICG chief executive Benoit Durteste said the appointments will give the company “significant additional firepower across Europe” as it seeks to deploy capital from the new strategy.