Intermediate Capital Group (ICG) is marketing a North American Private Debt fund, according to a pair of Form Ds filed with the US Securities and Exchange Commission on Monday. The firm has not disclosed a fund target.
ICG has been planning the vehicle’s launch for some time, having brought managing director Salvatore Gentile over from The Blackstone Group/GSO Capital Partners to head the North American private debt effort in late 2012.
The firm hired four new investment professionals for the platform in June. Brian Spenner joined from Blackstone and Seth Katzenstein previously worked as a portfolio manager for Black Diamond Capital Management. Michael Sproul and Robert Kiesel joined the firm as principals.
“ICG has ambitious growth plans for its North American operations and hiring the right talent is essential in working towards achieving our goals,” said Gentile in a statement announcing the hires. “With the addition of these professionals, ICG is positioned to successfully build a credit platform covering both liquid and private assets. This is an exciting time to develop a credit business, and the four new hires we are announcing today are an essential part of expanding ICG into a leading provider of alternative investment opportunities in the North American market.”
The filings list ICG chief executive officer Christophe Evain, Gentile, Spenner, Benoit Durteste and Philip Keller as executive officers on the fund. Pinnacle Trust Partners, Roam Capital, ISP Financial Services and Trium Investment Management are acting as associated brokers or dealers on the vehicle.